In line with our earlier report, it has been announced that Bob Swan will be stepping down as the company CEO, effective Feb. 15th. Swan will be replaced by Pat Gelsinger who presently works as the CEO of VMWare, and previously served as the 1st CTO of Intel.
Following this report, Intel’s stocks were 13% up and VMWare’s dipped by 5%. Swan’s tenure as the CEO of Team Blue has been full of criticism as the company continued to face increasing competition from AMD and newer Arm-based alternatives.
Over the last couple of years, Intel has lost multiple partners, Apple being the most prominent on the list so far. In addition to this, Intel’s 10nm, as well as the 7nm products have been further pushed down the line, with the company looking to outsource the production of some key products to TSMC and/or Samsung.
Bob Swan was named the CEO of Intel after the removal of Brian Krzanich. Initially, he was named the interim CEO but after more than half a year of waiting, he was eventually made the full-time CEO. However, one of the main criticisms behind this decision was the lack of technical background on Bob’s resume. Gelsinger who worked as the first CTO of Intel changes that as he’s worked across plenty of positions throughout the company as an engineer. Intel is expected to make the official announcement regarding the same on Wednesday.