Published: November 20, 2012
Intel Corp. announced yesterday that Paul Otellini decided to retire as chief executive by next month of May.
The decision was a surprise to the board of the Silicon Valley company, which expected the 62-year-old CEO to leave his position at the Intel's mandatory age of retirement which is 65. As spokesman Paul Bergevin said, "The decision was entirely Paul's, the board accepted his decision with regret."
“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “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. 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.”
Paul Otellini is the fifth CEO in the 45 years of history of the semiconductor chip maker company.
By ROM Cartridge. Image courtesy of Wikipedia.