VMware CEO Gelsinger takes over as Intel CEO

CIOReviewIndia Team | Thursday, 14 January 2021, 03:12 IST

On Wednesday, Intel confirmed that VMware's CEO Pat Gelsinger will be taking over as the new CEO of Bob Swan. Bob Swan moved on around the chip maker registering poor business last year.

Gelsinger will be stepping as the new CEO of Intel from February 15. He will also join the Intel board of directors from there on.

Intel emphasized that the announcement is not related to Intel's 2020 financial performance.

CNBC, which revealed the news first, reported that while Swan's tenure, Intel suffered blows from its competitors. During the summer, Intel reported that its latest-gen chips would be delayed while AMD's were already shipping inside the laptops.

In the last fall, Apple declared to break up its 15-year association with Intel for Macs, going for its own MI Silicon chip and the new Macs are already on in the market.

Intel's stock went up more than 13 percent while VMWare's stock reduced to almost 5 percent after the announcement.

Omar Ishrak, independent chairman of the Intel board, said, "After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat's technology and engineering expertise during this critical period of transformation at Intel."

Swan was declared the CEO in January 2019 after he served as interim CEO for seven months.

Gelsinger served as CEO of VMware since September 2012. Before becoming the CEO of VMware, he was President and Chief Operating Officer, EMC Information Infrastructure Products at EMC.

Prior to joining EMC, Gelsinger spent 30 years at Intel, where he became the company's first chief technology officer and drove the creation of key industry technologies like USB and Wi-Fi. He was the face behind the original architecture of 80486 processor, led 14 different microprocessor programs and served in key roles in the Core and Xeon families.

Swan and Gelsinger both always emphasized the strategic and growth of their respective companies.

Gelsinger said, "I am thrilled to rejoin and lead Intel forward at this important time for the company, our industry and our nation. I believe Intel has significant potential to continue to reshape the future of technology and look forward to working with the incredibly talented global Intel team to accelerate innovation and create value for our customers and shareholders."

Swan added that with the significant progress and development in the market, they are now at the right point of preparing this transition to the next leader of Intel.

Swan explained, "I am fully supportive of the board's selection of Gelsinger and have great confidence that, under his leadership and the rest of the management team, Intel will continue to lead the market as one of the world's most influential technology companies."

Gelsinger served for more than 30 years at Intel before joining EMC.

 

 

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