Intel Corp. ousted its chief executive in a surprise move that pivots the semiconductor giant closer to its engineering roots after a period of technology missteps, market-share losses and pressure from a hedge fund.
Intel on Wednesday said CEO Bob Swan would be succeeded by VMware Inc. chief Pat Gelsinger effective Feb. 15. Mr. Gelsinger, who was once Intel’s technology chief,The leadership transition unfolds after Intel last year ceded the title as America’s most valuable semiconductor company to rival Nvidia Corp. and fell further behind rivals in churning out the most advanced chips. The Santa Clara, Calif.
“This is incredibly important strategically to what Intel is looking to accomplish and be defined more as a technology innovator and operator,” said David Bahnsen, chief investment officer at the Bahnsen Group, a wealth-management firm that owns a stake in Intel through one of its funds. Mr. Swan joined Intel in 2016 as chief financial officer. He was named interim CEO two years later and
Core hairline 2 extreme
Steady stocks with very little return unless you bought it at inception. Too much competition out there as it is.
Intel will be dead in next 36 months. Haip ARM
LinusTech
🥽
Corpratecucknews
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.