Intel gains 13% as CEO Bob Swan plans to step down in February
The first order of business for Intel’s new CEO will be to try to fix the company’s manufacturing stumbles
Intel CEO Bob Swan will be replaced by the head of VMware, Pat Gelsinger, who’s returning to the company he left a more than a decade ago to try to lead it out of a crisis threatening its leadership of the chip industry.
Swan was named CEO in January 2019 after serving as interim CEO for about six months, reluctantly taking the job after the firing of his predecessor, Brian Krzanich. Gelsinger will rejoin Intel where he started his career as an engineer at age 18 and spent more than 30 years, working his way up the ranks before leaving in 2009 for EMC. He was appointed CEO of software maker VMware in 2012...
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