Otellini Out, Krzanich In.
Intel Corp, the world’s largest manufacturer of x86 processors for PC, announced today that Brian Krzanich will be replacing Paul Otellini as CEO of the company starting May 16th. M. Krzanich, 52, has been working with Intel since 1982. He was appointed as COO in January 2012.
The newly appointed chief executive officer faces a number of challenges, taking the reins of Intel Corp. and its 50,000 employees. Slumping PC sales and the general shift towards mobile computing are among issues threatening profits that will have to be addressed sooner rather than later. So far, the company has failed to get a foothold into this rapidly growing market. Mr. Krzanich said he wants to take give Intel a name in this segment, but also steer the company’s massive capabilities towards future tech such as wearable computing.
Intel Corp. has the world’s largest and most advanced semiconductor manufacturing capabilities and is worth roughly 10 times its closest competitor, AMD. Intel’s stock was up 0.50% at time of writing.