Intel CEO Bob Swan to Step Down in February

[MacRumors]

Intel CEO Bob Swan is to step down as of February 15, according to CNBC. CEO of VMWare, Pat Gelsinger, is expected to take over the position.

During Swan's tenure, Intel has faced a range of considerable setbacks. In the summer of 2020, Apple announced that it was severing its partnership with Intel to favor its own custom silicon instead. Microsoft, another major Intel client, is expected to follow suit in the near future. Intel also reported last year that its latest 7nm processors would be significantly delayed, while its main competitor, AMD, proceeded to capture valuable market share.

In December, a major hedge fund with a one-billion-dollar stake in Intel, Third Point, issued a letter to urge Intel to take "immediate action" and shake up its business model to combat the mounting threats to the company.

Swan was Intel's CFO before he was promoted to CEO in January 2019, having served as interim CEO for seven months. Unlike Swan, Gelsinger comes from a technical background. Having previously worked at Intel before VMWare, Gelsinger became the company's first Chief Technology Officer.

An official announcement of Swan's departure is expected later today. Intel's stock has risen by around ten percent following the news, while VMWare's fell slightly.

Article Link: Intel CEO Bob Swan to Step Down in February

 

[NutsNGum]

Too little, too late.

 

[iMatt.]

The M1 effect

 

[4jasontv]

I wish Intel responded to AMD by widening the cost performance ratio. I’m not spending nearly the same amount for a slower less efficient chip.

 

[MysticCow]

In other news, stagnation has consequences!

In further other news, your actions have consequences!

 

[Lounge vibes 05]

See ya, wouldn’t wanna be ya

 

[Dwalls90]

So unfortunate to see a company like Intel flounder year after year due to prioritizing the wrong things. The rise and fall of Intel will become a cornerstone case for management courses in business universities.

 

[neinjohn]

So Intel announce CEO change and Qualcomm buy Nuvia. What a day already!

 

[Anson_431]

It's actually interesting to see how the ultimatum from investors was able to finally drive the company into making changes, or at least appearing to be making changes at least. I do wonder how long does it take for Intel to stop being reactive though lol

 

[dogslobber]

This before the markets open then we have Apple's announcement later today. Are you thinking what I'm thinking?

 

[MysticCow]

This before the markets open then we have Apple's announcement later today. Are you thinking what I'm thinking?

That Apple will make a social justice initiative? Because that's what the Apple announcement today is.

We were even told that announcement WAS NOT GOING TO BE TECHNOLOGY.

 

[alexjholland]

Ten years ago, a mentor (COO of a chip company) told me, 'Intel will struggle in the future because they can't handle small Nm architecture. Buy ARM shares now.'

He was a smart guy.

 

[TheYayAreaLiving 🎗️]

Peace out! Thank you for your service.

 

[Ursadorable]

Intel has become a joke in the industry. Their fastest, most expensive processor (Intel Xeon W-3275M) comes in at rank 15, for more than 8x of the price of the 14th's place AMD processor. AMD holds all the top 14 spots.

PassMark Intel vs AMD CPU Benchmarks - High End

 

[MacBird]

Sounds as if Intel is in a tough spot. If they could compete with Apple Silicon at some point, that kind of competition might not hurt.

 

[BornAgainMac]

My fans on my MBP started up as I was reading this post.

 

[yaxomoxay]

That Apple will make a social justice initiative? Because that's what the Apple announcement today is.

We were even told that announcement WAS NOT GOING TO BE TECHNOLOGY.

My bet is some climate change thing. Bill Gates programmatic book on the topic is out in a few weeks.

 

[Maconplasma]

Wow crazy news to announce during the week of CES. Not a good sign.

 

[Bug-Creator]

The M1 effect

Nah, more the Ryzen effect. AS was just the last kick in the #### to push him over the cliff.

 

[Mike_Trivisonno]

Back in the olden days, I worked for a cleaning company. I remember emptying wastepaper baskets in the electrical engineering department of some company and they had a big Intel 8088 poster on the wall. It was a marvel at the time and soon everyone was using them. Intel seems to have lost the hungry, competitive edge they had back then. RIP

 

[xserret]

Chopping heads was long overdue !

 

[senttoschool]

Nah, more the Ryzen effect. AS was just the last kick in the #### to push him over the cliff.

TSMC effect is probably the biggest reason.

 

[Jbusick7944]

Time to buy a yacht and kick back.

 

[Mr. Dee]

This company might be a shell of its former self by the end of the decade. I’m even shocked to say that. It was a good run though.

 

[torontotim]

Intel will join the ranks of IBM, Northern Telecom, Blackberry etc. Inevitable.