Intel today announced that the company’s president and CEO, Paul Otellini has decided to retire as an officer and director at the company’s annual stockholders’ meeting that will take place in May of 2013 next year. Otellini who has been working with Intel from now 40 years of continuous service with the past 8 years working as company’s CEO.
Here is what Otellini had to say about:
“Paul Otellini has been a very strong leader, only the fifth CEO in the company’s great 45-year history, and one who has managed the company through challenging times and market transitions,” said Andy Bryant, chairman of the board. “The board is grateful for his innumerable contributions to the company and his distinguished tenure as CEO over the last eight years.”
“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership. I look forward to working with Andy, the board and the management team during the six-month transition period, and to being available as an advisor to management after retiring as CEO.”