The company has enlisted executive search firm Spencer Stuart to help find a new chief and is evaluating candidates.
Browsing: Bob Swan
For US chip giant Intel, the darling of the computer age before it fell on hard times, things might have been quite different.
The tech industry favours technically grounded leaders. Now rapid digitisation is forcing other sectors to follow suit.
Intel gave an upbeat forecast for the current quarter on continued demand for PCs that enable working and studying from home. The stock jumped.
Chip maker Intel said on Wednesday it would replace CEO Bob Swan with VMware CEO Pat Gelsinger beginning 15 February. The company’s shares were up nearly 10% in morning trading.
Samsung Electronics rose the most in almost 10 months after Intel was said to be considering asking the South Korean giant and TSMC to make some of its most sophisticated chips.
With no short-term catalyst for gains on the horizon, Intel shareholders are now forced to ponder its long-term fundamental prospects, and they frankly remain bleak, even as its rivals prosper.
After decades behind the scenes, TSMC is taking an ever-bigger share of the spotlight as one of the most famous and powerful technology companies in the world.
Intel’s decision to consider outsourcing manufacturing heralds the end of an era in which the company, and the US, dominated the semiconductor industry.
Shares of Intel slumped and its rivals surged on Friday after the US chip maker signalled it may give up manufacturing its own components after falling far behind schedule developing its newest technology.