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Guru3D.com » News » Intel CEO Bob Swan to step down within weeks - gets replaced by Pat Gelsinger

Intel CEO Bob Swan to step down within weeks - gets replaced by Pat Gelsinger

by Hilbert Hagedoorn on: 01/13/2021 04:54 PM | source: | 22 comment(s)
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.







« Breakdown Diagram of Intel Rocket-Lake S Die · Intel CEO Bob Swan to step down within weeks - gets replaced by Pat Gelsinger · Ubisoft, and not EA to Create New Star Wars Game »

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D1stRU3T0R
Senior Member



Posts: 208
Joined: 2017-08-16

#5877137 Posted on: 01/13/2021 07:31 PM
oh shiet AMD 2 is happening?

CRUBINO
Senior Member



Posts: 133
Joined: 2014-06-03

#5877235 Posted on: 01/14/2021 01:37 AM
Conroe 2 the sequel :D :D

nevcairiel
Senior Member



Posts: 744
Joined: 2015-05-19

#5877263 Posted on: 01/14/2021 03:31 AM
A tech guy as CEO? Seems like Intel is learning.

Undying
Senior Member



Posts: 14621
Joined: 2008-08-28

#5877266 Posted on: 01/14/2021 03:44 AM
Change is good.

Valken
Senior Member



Posts: 1685
Joined: 2011-01-05

#5877289 Posted on: 01/14/2021 06:54 AM
I see Intel stock coming around end of the year if they can get it going. HE thought he could just sit there, vested into 14 nm for 100 years too long and could outlive the pace progress...

Thank Jebus for AMD, Apple and ARM for bringing the sledgehammers to the House of Intel.

Good news all around.

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