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Intel CEO Bob Swan to step down within weeks - gets replaced by Pat Gelsinger
Intel CEO Bob Swan is stepping down effective Feb. 15 and will be replaced by VMWare CEO Pat Gelsinger, Intel announced Wednesday
Intel press-release; Today’s announcement is unrelated to Intel’s 2020 financial performance. Intel expects its fourth-quarter 2020 revenue and EPS to exceed its prior guidance provided on Oct. 22, 2020. In addition, the company has made strong progress on its 7nm process technology and plans on providing an update when it reports its full fourth-quarter and full-year 2020 results as previously scheduled on Jan. 21, 2021.
Gelsinger is a highly respected CEO and industry veteran with more than four decades of technology and leadership experience, including 30 years at Intel where he began his career.
“Pat is a proven technology leader with a distinguished track record of innovation, talent development, and a deep knowledge of Intel. He will continue a values-based cultural leadership approach with a hyper focus on operational execution,” said Omar Ishrak, independent chairman of the Intel board. “After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat’s technology and engineering expertise during this critical period of transformation at Intel. The board is confident that Pat, together with the rest of the leadership team, will ensure strong execution of Intel’s strategy to build on its product leadership and take advantage of the significant opportunities ahead as it continues to transform from a CPU to a multi-architecture XPU company.”
“I am thrilled to rejoin and lead Intel forward at this important time for the company, our industry and our nation,” said Gelsinger. “Having begun my career at Intel and learned at the feet of Grove, Noyce and Moore, it’s my privilege and honor to return in this leadership capacity. I have tremendous regard for the company’s rich history and powerful technologies that have created the world’s digital infrastructure. I believe Intel has significant potential to continue to reshape the future of technology and look forward to working with the incredibly talented global Intel team to accelerate innovation and create value for our customers and shareholders.”
“The board and I deeply appreciate Bob Swan for his leadership and significant contributions through this period of transformation for Intel,” continued Ishrak. “Under his leadership, Intel has made significant progress on its strategy to transform into a multi-architecture XPU company to capitalize on market shifts and extend Intel’s reach into fast-growing markets. Bob has also been instrumental in reenergizing the company’s culture to drive better execution of our product and innovation roadmap. He leaves Intel in a strong strategic and financial position, and we thank him for his ongoing guidance as he works with Pat to ensure the leadership transition is seamless.”
“My goal over the past two years has been to position Intel for a new era of distributed intelligence, improving execution to strengthen our core CPU franchise and extending our reach to accelerate growth,” said Swan. “With significant progress made across those priorities, we’re now at the right juncture to make this transition to the next leader of Intel. I am fully supportive of the board’s selection of Pat and have great confidence that, under his leadership and the rest of the management team, Intel will continue to lead the market as one of the world’s most influential technology companies.”
Most recently, Gelsinger served as the CEO of VMware since 2012, where he significantly transformed the company into a recognized global leader in cloud infrastructure, enterprise mobility and cyber security, almost tripling the company’s annual revenues. Prior to joining VMware, Gelsinger was president and chief operating officer of EMC Information Infrastructure Products at EMC, overseeing engineering and operations for information storage, data computing, backup and recovery, RSA security and enterprise solutions. Before joining EMC, he spent 30 years at Intel, becoming the company’s first chief technology officer and driving the creation of key industry technologies such as USB and Wi-Fi. He was the architect of the original 80486 processor, led 14 different microprocessor programs and played key roles in the Core and Xeon families.
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Fender178
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Joined: 2004-09-28
Senior Member
Posts: 4198
Joined: 2004-09-28
#5878849 Posted on: 01/19/2021 01:45 AM
It was his watch. Don't like the environment that falls on your watch? Then do not accept the job.
A poison chalice to some will seem appealing, so long as they get to drink it on the throne.
No.
You do not get a get out of jail free card, no one does. They knew what the problems were prior to taking the job offered, and they did not meet the challenge. In short, they did not care.
A person who cared would've made it clear from the outset that:
1) They are in control. No questions asked.
2) Intel lack and that all focus is on no questions asked.
3) All final decisions are made by arriving at conclusions to address (2) in the most expedient fashion. No questions asked.
When I say 'no questions asked' I am of course, referring to the shareholders, as, the shareholders need to be in on the heist, before we can talk about their cut.
That would have bought Swan a lot more time, allowed the board and shareholders to understand the severity of the problem, and focus Intel's (extensive) science and engineering group.How is it on him that some people under him tried and sabotage something they were working on because that person didn't get the CEO's job that Swan got and that person got pissed off about it?
It was his watch. Don't like the environment that falls on your watch? Then do not accept the job.
A poison chalice to some will seem appealing, so long as they get to drink it on the throne.
No.
You do not get a get out of jail free card, no one does. They knew what the problems were prior to taking the job offered, and they did not meet the challenge. In short, they did not care.
A person who cared would've made it clear from the outset that:
1) They are in control. No questions asked.
2) Intel lack and that all focus is on no questions asked.
3) All final decisions are made by arriving at conclusions to address (2) in the most expedient fashion. No questions asked.
When I say 'no questions asked' I am of course, referring to the shareholders, as, the shareholders need to be in on the heist, before we can talk about their cut.
That would have bought Swan a lot more time, allowed the board and shareholders to understand the severity of the problem, and focus Intel's (extensive) science and engineering group.How is it on him that some people under him tried and sabotage something they were working on because that person didn't get the CEO's job that Swan got and that person got pissed off about it?
Clouseau
Senior Member
Posts: 2805
Joined: 2011-05-17
Senior Member
Posts: 2805
Joined: 2011-05-17
#5878861 Posted on: 01/19/2021 03:29 AM
The head person is always shouldering the responsibility. CEOs sign a contract that have clear objectives on what it will take in order to continue on to a new contract period. If those objectives are not met, the board will either seek a replacement or keep them on. Plain and simple. Everything in-between is all politics and bullshite. The captain always goes down with the ship; no escaping it.
The head person is always shouldering the responsibility. CEOs sign a contract that have clear objectives on what it will take in order to continue on to a new contract period. If those objectives are not met, the board will either seek a replacement or keep them on. Plain and simple. Everything in-between is all politics and bullshite. The captain always goes down with the ship; no escaping it.
Astyanax
Senior Member
Posts: 13689
Joined: 2018-03-21
Senior Member
Posts: 13689
Joined: 2018-03-21
#5878901 Posted on: 01/19/2021 08:49 AM
being used as a scapegoat for a corporate philosophy that was unmaintainable you mean.
The head person is always shouldering the responsibility.
being used as a scapegoat for a corporate philosophy that was unmaintainable you mean.
Clouseau
Senior Member
Posts: 2805
Joined: 2011-05-17
Senior Member
Posts: 2805
Joined: 2011-05-17
#5878922 Posted on: 01/19/2021 11:30 AM
Label it however you want. The point is these guys know that is always a possibility. The board kicking the CEO to the street can be for a myriad of reasons. Nature of the beast. Obviously they did not like the perceived shape the organization is in...so he is out. Companies can only be changed from the top down and management never cuts its own throat.
Label it however you want. The point is these guys know that is always a possibility. The board kicking the CEO to the street can be for a myriad of reasons. Nature of the beast. Obviously they did not like the perceived shape the organization is in...so he is out. Companies can only be changed from the top down and management never cuts its own throat.
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Joined: 2008-09-07
You aren't and never have been part of a corporate organisation at this level, you have never been in a position to try and induce change at a change resistant company full of ego's and cliques, so you cannot comment from a position of knowing what he did and didn't do.
I can tell you with a deal of certainty though, that the layoffs last year included employee's that resisted the break down of the cliques and egotistical practices that put the company where they are right now though,
The position that Bob Swan was in was in a few ways no different to the money leaking mess that AMD found themselves in post Hecter Ruiz,
Dirk Meyer cops a lot of crap for the storm he had to navigate to plug up AMD's decline, and I do personally hold him responsible for how the CPU division were underfunded for the BD era, but it was necessary to save the company.
With the amount of employee's that make up intel, investigations that lead to shuffling, firing and demotion can take upwards of a year in order to not meet internal resistance and so that the real bludgers in the organisation don't throw their productive coworkers under the bus to protect themselves.
That aside, it cannot be ignored that the shareholders had far too much influence, that led to a lack of focus on the problem(s) - that already existed prior to Swan.
How influential were the shareholders in hiring the man who came from a CFO background, do you think?