Monday, November 19th 2012

Intel CEO Paul Otellini to Retire in May

Intel Corporation today announced that the company's president and CEO, Paul Otellini, has decided to retire as an officer and director at the company's annual stockholders' meeting in May, starting an orderly leadership transition over the next six months. Otellini's decision to retire will bring to a close a remarkable career of nearly 40 years of continuous service to the company and its stockholders.

"Paul Otellini has been a very strong leader, only the fifth CEO in the company's great 45-year history, and one who has managed the company through challenging times and market transitions," said Andy Bryant, chairman of the board. "The board is grateful for his innumerable contributions to the company and his distinguished tenure as CEO over the last eight years."


"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."

The board of directors will conduct the process to choose Otellini's successor and will consider internal and external candidates for the job.

In addition, the company also announced that the board has approved the promotion of three senior leaders to the position of executive vice president: Renee James, head of Intel's software business; Brian Krzanich, chief operating officer and head of worldwide manufacturing; and Stacy Smith, chief financial officer and director of corporate strategy.

During Otellini's tenure as CEO -- from the second quarter of 2005 through the third quarter of 2012 -- Intel:

● Generated cash from operations of $107 billion
● Made $23.5 billion in dividend payments
● Increased the quarterly dividend 181 percent from $0.08 to $0.225

From the end of 2005 through the end of 2011, Intel achieved record revenue and net income. During this period, annual revenue grew from $38.8 billion to $54 billion, while annual earnings-per-share grew from $1.40 to $2.39.

In addition to financial performance, Intel, under Otellini's leadership, achieved notable successes in areas of strategic importance. During this period, the company:

● Transformed operations and the cost structure for long-term growth
● Achieved breakthrough innovations, including High-K/Metal gate and now 3-D Tri-gate transistors; and dramatic improvement in energy efficiency of Intel processors
● Reinvented the PC with Ultrabook devices
● Greatly expanded business partnerships and made strategic acquisitions that expanded Intel's presence in security, software and mobile communications
● Delivered the first smartphones and tablets for sale with Intel inside
● Grew the vast network of cloud-based computing built on Intel products
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13 Comments on Intel CEO Paul Otellini to Retire in May

#1
Katanai
One of the greatest CEO's of all time. He was always underrated imo but as the end of the article indicates he only brought growth to Intel and never had any major issues, oh and he also completely crushed AMD. :)
Posted on Reply
#3
Easy Rhino
Linux Advocate
by: TheGuruStud
He should be retired to jail.
Go back down to the basement, nerd.
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#4
3870x2
Not many CEOs look like a genuinely good guy.

Then you have guys like Gaben.
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#6
NC37
Quick Intel now hire an ex AMD CEO ;) :D
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#7
seronx
Doom & Gloom to x86! Doom & Gloom to x86!!!!
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#8
FordGT90Concept
"I go fast!1!11!1!"
Intel's stocks slid today because of the announcement. :(
Posted on Reply
#9
Fourstaff
by: FordGT90Concept
Intel's stocks slid today because of the announcement. :(
Quick, buy more before it rises!

Intel provides quite a healthy and constantly increasing dividend, and should be bought on every dip.
Posted on Reply
#10
3870x2
by: Fourstaff
Quick, buy more before it rises!

Intel provides quite a healthy and constantly increasing dividend, and should be bought on every dip.
anything x86 might be a dangerous investment in these times.
Posted on Reply
#11
Fourstaff
by: 3870x2
anything x86 might be a dangerous investment in these times.
Medfield proved to be pretty competent (if a bit invisible), so when push becomes shove Intel can response relatively easily. Also, I don't see x86 servers going anywhere anytime soon.
Posted on Reply
#12
seronx
by: Fourstaff
Medfield proved to be pretty competent (if a bit invisible), so when push becomes shove Intel can response relatively easily. Also, I don't see x86 servers going anywhere anytime soon.
The only problem I see with Penwell and Cloverview is the overly weak PowerVR SGX 540/545 from 2008/2010. Temash is going to Bulldoze right though that.

http://ark.intel.com/products/70105
2c/4t, 32-bit, SSSE3, Q3 2012, DX 10.1, 4 32-bit ALUs(GPU)

vs
AMD Temash
2c/2t, 64-bit, AVX, Q1 2013, DX 11.1, 64 32-bit ALUs(GPU) <--(If the same frequency Temash can be up to 16x faster than Cloverview.)
Posted on Reply
#13
FordGT90Concept
"I go fast!1!11!1!"
Intel could always switch over to manufacturing ARM processors.
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