Intel said on Monday that its president and chief executive, Paul S. Otellini, would retire from the company in May, after 40 years with the chip maker. The company said it would prepare to transition to a new leader over the next six months.
Mr. Otellini has served as chief executive for seven years. In a statement, Intel said it credited him for creating a path for long-term growth for the company. It also said he “reinvented the PC” with ultrabook device, the thinner, lighter laptops that have nonetheless failed to gain traction in the computer market.
“I’ve been privileged to lead one of the world’s greatest companies,” Mr. Otellini said in a statement. “After almost four decades with the company and eight years as C.E.O., it’s time to move on and transfer Intel’s helm to a new generation of leadership.”
The chip maker has struggled recently because of the stalled personal computer market. Demand for traditional personal computers has been weak because many consumers are instead choosing mobile alternatives, like smartphones or tablets, as computing devices. Intel has a small footprint in the tablet market.
Bits Blog: Intel Chief Executive to Retire in May
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