Wednesday, January 13th 2021
Intel CEO Bob Swan to Step Down Effective February
The midnight bell seems to have struck for Intel CEO Bob Swan, with Intel announcing his departure from the CEO position effective February 15th. The news comes after a two-year tenure as Intel's CEO, in addition to seven additional months in which Bob Swan served as interim Intel CEO before officially assuming the position. VMWare CEO Pat Gelsinger will take over the CEO chair, and following this announcement, Intel's stock surged by more than 10%, while VMWare's stock dipped by 5% on the prospect of losing its CEO.
Patrick Gelsinger formerly served under Intel, where he climbed the ranks until reaching the coveted CTO position - and also served as Senior Vice-president and General Manager of the Digital Enterprise Group. He is also credited as being one of the driving forces behind the creation of standards such as USB and Wi-Fi, architected the 80486, and played key roles in 14 generations of Intel Core and Xeon processors. Investors expect Gelsinger's technical background to help steer Intel into less troubled waters when it comes to strategy and execution. in wake of Bob Swan's departure, Intel also announced that it expects fourth quarter 2020 revenue and earnings to exceed prior guidance, and that it will take to its January 21st earnings report to discuss the "strong progress" achieved by the company in the in-development 7 nm node.
Source:
CNBC
Patrick Gelsinger formerly served under Intel, where he climbed the ranks until reaching the coveted CTO position - and also served as Senior Vice-president and General Manager of the Digital Enterprise Group. He is also credited as being one of the driving forces behind the creation of standards such as USB and Wi-Fi, architected the 80486, and played key roles in 14 generations of Intel Core and Xeon processors. Investors expect Gelsinger's technical background to help steer Intel into less troubled waters when it comes to strategy and execution. in wake of Bob Swan's departure, Intel also announced that it expects fourth quarter 2020 revenue and earnings to exceed prior guidance, and that it will take to its January 21st earnings report to discuss the "strong progress" achieved by the company in the in-development 7 nm node.
39 Comments on Intel CEO Bob Swan to Step Down Effective February
I guess they believe in the power of repetition. Keep hoping for a different outcome, guys, you can do it!
Anyone else getting that vibe?
Omfg, they paid Swann 67 million to further run the company into the ground, what not with these retarded no benchmarks crap? No wonder they are so thrilled for Pat to come back. Though judging from vmware... it could be a yawn.
I have no idea if this will help Intel, certainly not in the next 1-2 years with things already locked in place. They really need to stop promotoing old boys and bring in fresh outsiders to rebuild the mindset at Intel, or nothing will improve. Look at Rocket Lake, power hungry and all they care about is few fps lead over Zen 3 in stupid games. Alder Lake may be a ray of sunshine for them but it can't come soon enough.
Anyway I'm all in on Zen for many years to come, but we need serious competition, but it may come from Apple not Intel.
In all honesty, I thought it was pretty obvious. Intel are on a shitty streak for quite some time. I expected the board to take measures a long time ago.You have a million dollars severance package?Faux corporate image and crappy halo products can keep you afloat only for so long.
1. the board needs to f*** shut up and let the CEO and engineering teams do their jobs;
2. the new CEO needs to collaborate, understand and come up with strategies and risks to take to get back up to speed;
3. process issues need to be fixed. Either by asking for help from external, by hiring new experts, skipping some generations and move directly to EUV 5nm, don't know;
4. put in place a bold plan like Lisa did with Zen/RDNA. New architectures built from ground up, something like Conroe.