Intel CEO Paul Otellini Retiring in May

bp9801 - November 20, 2012 02:03AM in General News

Some rather interesting news from Intel, as CEO Paul Otellini announced he will retire in May. Otellini has spent the last eight years as CEO and been at Intel for four decades in total, but now "it's time to move on and transfer Intel's helm to a new generation of leadership." The official retirement is set to take place during a stockholders meeting, with the time spent between now and then ensuring the transition to a new CEO is as smooth as possible. Intel's board of directors will look at internal and external candidates to fill the CEO role, but no names have been mentioned at this time as possible successors. The company has seen record revenue between 2005 and 2012 under Otellini ($38.8 to $54 billion), so whoever the successor is has some pretty big shoes to fill.