Pat Gelsinger replaces Bob Swan as CEO of Intel

Pat Gelsinger replaces Bob Swan as CEO of Intel


MarketFrames

Anna Savelieva | 01/14/2021

Pat Gelsinger replaces Bob Swan as CEO of Intel

The current head of the company will step down amid problems with the supply of chips and the rejection of the Apple partnership, however, the message emphasizes that the personnel reshuffle is not related to “financial
Intel’s Results for 2020. ”

The company confirmed that the changes will come into effect from
February 15, and last year’s financial report will be published on January 21. Note that against the backdrop of the announcement, Intel shares rose 13%, while VMWare shares, whose CEO
now is Pat Gelsinger, fell nearly 7%.

As a reminder, Mr. Swan was named interim CEO following the sudden resignation of Brian Krzhanich due to
an affair with an Intel employee. Another potential candidate, VMware CEO Pat Galsinger, has said he has no plans to leave VMware.

Prior to joining the CEO position, Bob Swan served as CFO since 2016, which critics say has led Intel to lag behind its competitors this year due to lack of
technical training from the head of the company. Experts also note that during this time the company lost its market share to AMD, Samsung and TSMC. At the same time, in the summer, there was talk of a possible transfer of production
chips for outsourcing.

Prior to joining Intel, Bob was CFO of eBay for nine years and a partner in the General Atlantic investment fund. Pat Gelsinger, on the other hand, is a technology specialist with a
Shoulders experience of working at Intel as Chief Technology Officer.

Personnel appointments

Intel



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