Intel is replacing its CEO after only two years in what had been a rough stretch for the chipmaker. Bob Swan, who became the company's chief executive in early 2019, will be replaced in.
In return to Intel, VMware chief Pat Gelsinger to take over as CEO
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Facing rising investor pressure to speed up its lagging chipmaking prowess, Intel Corp. today parted ways with Chief Executive Robert Swan and appointed VMware CEO Pat Gelsinger to the top spot.
The appointment is surprising mainly in the fact that it took this long for Intel to appoint its former chief technology officer to the helm. It follows years of speculation that Gelsinger (pictured), who has led VMware since 2012, would be an ideal candidate to lead Intel in a new era given his onetime 30-year tenure at the chipmaking giant. Swan was Intel’s chief financial officer since 2016, a nontechnical role that made his appointment as CEO just two years ago a surprise and a disappointment to some.
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