Intel CEO Bob Swan to Step Down in February

Intel CEO Bob Swan is to step down as of February 15, according to CNBC. CEO of VMWare, Pat Gelsinger, is expected to take over the position.

bob swann intel

During Swan's tenure, Intel has faced a range of considerable setbacks. In the summer of 2020, Apple announced that it was severing its partnership with Intel to favor its own custom silicon instead. Microsoft, another major Intel client, is expected to follow suit in the near future. Intel also reported last year that its latest 7nm processors would be significantly delayed, while its main competitor, AMD, proceeded to capture valuable market share.

In December, a major hedge fund with a one-billion-dollar stake in Intel, Third Point, issued a letter to urge Intel to take "immediate action" and shake up its business model to combat the mounting threats to the company.

Swan was Intel's CFO before he was promoted to CEO in January 2019, having served as interim CEO for seven months. Unlike Swan, Gelsinger comes from a technical background. Having previously worked at Intel before VMWare, Gelsinger became the company's first Chief Technology Officer.

An official announcement of Swan's departure is expected later today. Intel's stock has risen by around ten percent following the news, while VMWare's fell slightly.

Tags: Intel, VMware

Top Rated Comments

BornAgainMac Avatar
1 week ago
My fans on my MBP started up as I was reading this post.
Score: 33 Votes (Like | Disagree)
iMatt. Avatar
1 week ago
The M1 effect
Score: 21 Votes (Like | Disagree)
NutsNGum Avatar
1 week ago
Too little, too late.
Score: 17 Votes (Like | Disagree)
alexjholland Avatar
1 week ago
Ten years ago, a mentor (COO of a chip company) told me, 'Intel will struggle in the future because they can't handle small Nm architecture. Buy ARM shares now.'

He was a smart guy.
Score: 15 Votes (Like | Disagree)
MysticCow Avatar
1 week ago
In other news, stagnation has consequences!

In further other news, your actions have consequences!
Score: 12 Votes (Like | Disagree)
Dwalls90 Avatar
1 week ago
So unfortunate to see a company like Intel flounder year after year due to prioritizing the wrong things. The rise and fall of Intel will become a cornerstone case for management courses in business universities.
Score: 12 Votes (Like | Disagree)

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