Thursday, January 31st 2019

Intel Names Robert Swan CEO

Intel Corporation (NASDAQ: INTC) today announced that its board of directors has named Robert (Bob) Swan as chief executive officer. Swan, 58, who has been serving as Intel's interim CEO for seven months and as chief financial officer since 2016, is the seventh CEO in Intel's 50-year history. Swan has also been elected to Intel's board of directors. Todd Underwood, vice president of Finance and director of Intel's Corporate Planning and Reporting, will assume the role of interim chief financial officer as the company undertakes an internal and external search for a permanent CFO.

"As Intel continues to transform its business to capture more of a large and expanding opportunity that includes the data center, artificial intelligence and autonomous driving, while continuing to get value from the PC business, the board concluded after a thorough search that Bob is the right leader to drive Intel into its next era of growth," said Chairman Andy Bryant. "The search committee conducted a comprehensive evaluation of a wide range of internal and external candidates to identify the right leader at this critical juncture in Intel's evolution. We considered many outstanding executives and we concluded the best choice is Bob. Important in the board's decision was the outstanding job Bob did as interim CEO for the past seven months, as reflected in Intel's outstanding results in 2018. Bob's performance, his knowledge of the business, his command of our growth strategy, and the respect he has earned from our customers, our owners, and his colleagues confirmed he is the right executive to lead Intel."
"In my role as interim CEO, I've developed an even deeper understanding of Intel's opportunities and challenges, our people and our customers," Swan said. "When I was first named interim CEO, I was immediately focused on running the company and working with our customers. When the board approached me to take on the role permanently, I jumped at the chance to lead this special company. This is an exciting time for Intel: 2018 was an outstanding year and we are in the midst of transforming the company to pursue our biggest market opportunity ever. I'm honored to have the chance to continue working alongside our board, our leadership team, and our more than 107,000 superb employees as we take the company forward."

Swan is a proven leader with a strong track record of success both within and outside Intel. As interim CEO, Swan has managed the company's operations in close collaboration with Intel's senior leadership team. Swan has been Intel's CFO since October 2016. In this role, he led the global finance, mergers and acquisitions, investor relations, IT and corporate strategy organizations. Prior to joining Intel, Swan served as an operating partner at General Atlantic LLC and served on Applied Materials' board of directors. He previously spent nine years as CFO of eBay Inc., where he is currently a director. Earlier in his career, he was CFO of Electronic Data Systems Corp. and TRW Inc. He also served as CFO, COO and CEO of Webvan Group Inc., and began his career at General Electric, serving for 15 years in several senior finance roles.
Add your own comment

18 Comments on Intel Names Robert Swan CEO

#1
Slizzo
Good, I always thought it sucked that he initially said he wasn't interested in taking the position, as he seems to have been doing a pretty good job as CEO for the company.
Posted on Reply
#2
trparky
Just another MBA and that's not what Intel needs, they need someone like AMD's Lisa Su to take the company by the horns and make them innovate again.
Posted on Reply
#3
lynx29
too little too late for me, my money is going to ryzen 3700x or 3800x this summer. time to retire this laptop of mine once and for all
Posted on Reply
#4
dj-electric
lynx29
too little too late for me, my money is going to ryzen 3700x or 3800x this summer. time to retire this laptop of mine once and for all
Do you choose components by CEOs of the companies you're interested at buying from? That's pretty cool.
Posted on Reply
#5
moproblems99
What? A man? And white? I thought they just made a big push for ethnic and gender equality?

I would have thought they would have put a woman in charge with all the steps they have been taking.
Posted on Reply
#6
lynx29
dj-electric
Do you choose components by CEOs of the companies you're interested at buying from? That's pretty cool.
I was responding to the post right directly above mine actually and the whole Lisa Su being aggressive part actually.

. Pretty cool, that is.
Posted on Reply
#7
yogurt_21
soo...are we gonna talk about his last name?

like is this Intel's Swan Dive? lol

in all seriousness he's got an awesome CFO resume but very little experience being the face of a company. This should be interesting
Posted on Reply
#9
XXL_AI
I'm not buying intel until they recall and replace all spectre and meltdown cpus worldwide.
Posted on Reply
#10
ensabrenoir
moproblems99
What? A man? And white? I thought they just made a big push for ethnic and gender equality?

I would have thought they would have put a woman in charge with all the steps they have been taking.
equalityDictionary result for equality
/ɪˈkwɒlɪti,iːˈkwɒlɪti/
noun
1.
the state of being equal, especially in status, rights, or opportunities.

synonyms:fairness, justness, equitability, impartiality, even-handedness, egalitarianism, equal rights, equal opportunities, non-discrimination;

.....no where does it say to take bias action against one side to balance another..... Fear corrupts ....and turns normal people into monsters. Intel choose who they believed could give them the maximum return on their investment.
Posted on Reply
#11
R-T-B
XXL_AI
I'm not buying intel until they recall and replace all spectre and meltdown cpus worldwide.
I'm unsure how AMD would respond to another brand recalling/replacing their spectre affected stock.
Posted on Reply
#12
moproblems99
R-T-B
I'm unsure how AMD would respond to another brand replacing their spectre affected stock.
I surmise they would love it if Intel was buying the replacement cpus from AMD.
Posted on Reply
#13
ypsylon
I'm not into stocks or anything, but I like to see how world economy is doing from time to time. This week was really interesting with nVidia beating and then Intel.

I was laughing like mad the other day, when I've heard about this appointment.

I said, Intel lost the plot completely. Appointing an accountant for a CEO of biggest microchip producer in the World? Give me a break. AMD is :D:laugh: like that.

And then few hours later tuned into CNBC and there is Jim Cramer in Squawk on the street saying exactly the same thing.

See even economists understand how baloney this particular appointment is. Hmm... I have career at CNBC in the bag. :roll:
Posted on Reply
#14
Shambles1980
XXL_AI
I'm not buying intel until they recall and replace all spectre and meltdown cpus worldwide.
well thats not going to happen lol.
And its not just intel affected either but they were hardest hit, i guess you wont be buying any cpus untill the mfr recalls them all?
Posted on Reply
#15
Fourstaff
Interesting choice. Is it due to lack of obvious engineering candidates, or the shareholders seem to think Intel has a financial problem right now?
Posted on Reply
#16
lynx29
Fourstaff
Interesting choice. Is it due to lack of obvious engineering candidates, or the shareholders seem to think Intel has a financial problem right now?
no its because they chose an accountant as their CEO, instead of an engineer
Posted on Reply
#17
moproblems99
lynx29
no its because they chose an accountant as their CEO, instead of an engineer
no what?
Posted on Reply
#18
lynx29
moproblems99
no what?
what no?
Posted on Reply
Add your own comment