Intel CEO Paul Otellini Resigns in May 2013, Two Years Early
Subject: General Tech, Processors, Mobile | November 23, 2012 - 06:18 AM | Scott Michaud
Tagged: Intel, CEO
Intel has not had any financial or directional problems nor have they experienced a revolving door in upper management, at least to my knowledge. Paul Otellini was expected to remain at the helm of the chip giant until he turned 65 at which point he would enjoy a wonderful retirement. He would have commanded the company for a full decade.
Intel recently announced that Otellini will leave the company and retire at 62.
Possibly the most important part of the story might be the non-story piece: there does not appear to be any reason for him to leave. The board apparently did not want him to go. ARM holds a large lead in momentum over Intel, during Paul’s watch, in the mobile market but even then the future looks promising with early commentaries about Clover Trail. If I had to guess I would posit that his decision to step down is entirely for personal and possibly sudden circumstances. That was just a guess, however.
To further speculation about its abruptness, Intel does not seem to have anyone in mind as a replacement in just 6 months’ time. For the first time Intel will consider fulfilling the position from outside the company.
In related news, Intel’s stock made a slight dip in value after the abrupt announcement. While the decline was slight it does echo the reluctance mentioned earlier and shows that even the stock market approved of Intel’s performance over the last eight years.