The company was headed by Chief Financial Officer Bob Swan, who did not want this position.
Intel's new CEO, 58-year-old Bob Swan, said he is the maker of microprocessors. Since 2016 he has been Chief Financial Officer and since June 2018 he has been CEO.
Intel has for the first time appointed a CEO, who is not involved in designing and manufacturing microchips, Reuters said. Swan is the Seventh CEO in the history of the company, all former executives were researchers or engineers and started their manufacturing career.
Almost all of his career, Swan has worked in the field of finance. Prior to joining Intel, he was the eBay's nine-year chief financial officer and also a partner of General Atlantic. At the beginning of his career, he worked as the Home Delivery Group's chief operating officer, which was closed in 2001.
Swan has repeatedly publicly stated that he does not want to become Intel's permanent director. Reuters sources, however, claim that during the internal discussions the manager said that if offered, he agreed.
Intel is one of the few companies that designs and manufactures microchips in their own right, according to Reuters. In some markets, however, it lost leadership due to strong competition with Advanced Micro Devices and Nvidia Corp, which are developing but do not make their own tokens. The new CEO faces the challenge of resuming a high volume of production and returning the lost share of the company.
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