Intel CEO to Retire Next Year
Intel CEO Paul Otellini will leave his role as executive officer and chairman of the board by mid-2013, the company announced today. Otellini has been CEO for the processor maker for eight years. "After almost four decades with the company and eight years as CEO, it's time to move on and transfer Intel's helm to a new generation of leadership," said Otellini. "I look forward to working with Andy, the board and the management team during the six-month transition period, and to being available as an advisor to management after retiring as CEO." Intel has begun searching for a replacement CEO, but has not yet named anyone. Otellini oversaw Intel's transition from primarily providing desktop processors to mobile processors for laptops and netbooks. The company has targeted mobile devices, too, but has yet to see any real success from its line of Atom chips for smartphones. Intel has launched just three Atom-equipped smartphones this year, including a variant of the Motorola Droid RAZR M for world markets called the RAZR I.