Business appliance maker Intel Corporation announced that its board of directors has elected Paul S. Otellini, currently president and COO, as its next CEO. Mr. Otellini will succeed Craig R. Barrett.
Mr. Barrett will succeed Andrew S. Grove as chairman of the Intel board of directors as Mr. Grove will no longer serve on the Intel board but will assume the role of senior advisor to the board and senior management. The changes will become effective at the company's next annual stockholders' meeting May 18, 2005.
Mr. Otellini joined Intel in 1974 and has served as president and COO since January 2002. He was elected to the board of directors in 2002. Since joining Intel, Otellini has held a number of positions, including general manager of the company's chipset business and later serving as an assistant to then-Intel president Andy Grove in 1989. In 1990 he was named to oversee Intel's microprocessor business as general manager, leading the introduction of the Intel Pentium® processor in 1993.
Mr. Otellini served from 1992 to 1998 as executive vice president of sales and marketing where he focused on extending Intel's global presence into emerging markets and initiated Intel's leadership in the development and use of e-Commerce for transacting business worldwide. From 1998 to 2002, Mr. Otellini served as executive vice president and general manager of the Intel Architecture Group, responsible for the company's microprocessor and chipset businesses and strategies. In this role, he oversaw all of Intel's business groups related to enterprise, and mobile and desktop computing.
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