Monday, Jan 18, 2021, 10:41 Events

A Surprising Turn of Events: Intel's CEO Swan Steps Down, VMWare CEO to Take His Place

The era of Bob Swan as Intel CEO didn't last terribly long. In just February 2019, the former finance director had paved his way towards the top of the company, after 7 months of war spent as Intel's interim CEO. It was not a smooth transition, as ex-CEO Brian Krzanich had to leave in the summer of 2018 after an internal affair. Now there's yet again another change of leadership in the company, with Intel confirming Bob Swan's planned departure from the company this February in a press release.

advertising


advertising


Pat Gelsinger to Take Swan's Place and Return to Intel
The new CEO has already been found – VMWAre CEO Pat Gelsinger, who was also a candidate for CEO in 2018. It's not known whether Swan voluntarily abdicated or was met by a joint decision on the part of the company that he wasn't the appropriate leader for overcoming their current hardware problems. There's no explicit statement in the official announcement, only a quote from Swan, in which he supports the board's decision in favor of Gelsinger.


Intel's Old CTO and New CEO Pat Gelsinger


A Technologically Inclined CEO
Gelsinger is a chip specialist with a background in technology. Although he is making the switch to the chip giant from another company, he's already well acquainted with the Intel. For many years, Gelsinger was involved in chip development at Intel and held the position of Chief Technology Officer. It surprised many in 2009 when Gelsinger suddenly announced his departure from the company and Intel stocks are already rising after the announcement of his upcoming return. In after-hours trading, Intel securities soared by almost 10%. Gelsinger certainly has his work cut out for him, with Intel currently fighting for survival on multiple fronts. One could say that the company has lost its touch.

More mtech.news articles you might enjoy to read: