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December 7, 2012

Intel insider to succeed CEO Paul Otellini after retirement

Otellini also stoked rumour that the firm would manufacture mobile chips for US based Apple

By CBR Staff Writer

US based chipmaker Intel’s outgoing CEO Paul Otellini is expected to be replaced by a successor from within the organisation, following his retirement in May 2013.

Otellini was quoted by Reuters as saying that the final decision lies with the firm’s board of directors, but that his sense is that the director will choose an inside candidate more willingly than appointing someone from outside.

"It’s not up to me, but I think that’s the most likely outcome," Otellini said.

"I’m very comfortable with the internal candidates. … In this environment, why take the risk and take the time [of hiring an outside executive]? So my sense is that they will stay inside."

Otellini also stoked rumour that the firm would manufacture mobile chips for US based Apple that led to increase in company’s shares.

"For the right types of products and not to enable my competitors, I would certainly consider it," Otellini said.

"There’s a lot of stuff in the pipeline.

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"As you know it takes a while to move your designs over, to design them under our process, for us to be able to bring them in-house and so forth and our foundry customers aren’t going to announce that they’ve moved until they’ve moved because it would hurt them at their current suppliers."

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