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Intel replacing CEO Bob Swan with tech vet Pat Gelsinger
4 monthes ago | By New York Post
Bob Swan, who became the company's chief executive in early 2019, will be replaced in mid-February by industry veteran Pat Gelsinger.
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Intel stock surges 7% on news CEO Bob Swan to be replaced by VMware's Pat Gelsinger
4 monthes ago | By Business Insider
Summary List Placement Shares of Intel are up over 7% Wednesday on news CEO Bob Swan will be replaced by VMware's Pat Gelsinger.
The surprise move comes after activist hedge fund Third Point LLC said "immediate change" is needed to reverse the semiconductor giant's fortunes.
Third Point CEO Daniel Loeb wrote to Intel chairman Omar Ishrak on December 29 urging immediate action to secure the company's role as a major provider of processor chips for PCs and data centers.
The New York-based hedge fund holds a $1 billion stake in Intel.
"Without immediate change at Intel, we fear that America's...
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Intel gets the leader it needs
4 monthes ago | By Fortune
In what may be the least surprising tech news development of 2021 so far, Intel announced on Wednesday morning that CEO Bob Swan is leaving and will be replaced by VMware CEO Pat Gelsinger.
It's a tough break for Swan, the former CFO who had a long and illustrative career in finance before ending up as the surprise pick for CEO at Intel almost exactly two years ago. While all of Intel's previous CEOs, starting with Robert Noyce in 1968, had a background in engineering and science, Swan was an MBA whose career motto was “finance is not about counting the beans-it's about helping the beans...
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