Intel picks insider Brian Krzanich as CEO

by CXOtoday News Desk    May 03, 2013

Brian Intel

Intel Corp chose veteran insider Brian Krzanich as chief executive, disappointing some investors who hoped an outsider would push for aggressive changes to help the world’s largest chipmaker catch up in the mobile revolution, reported Reuters.

The company also announced on Thursday that software honcho Renée James, 48, had been elevated to the post of president. Her appointment signalled to some that Intel, while likely intending to stick with its formula of intense investment to keep it ahead in the microchip technology game, is willing to explore new growth areas.

The company said last November that it might go external for its next CEO, raising hopes that it might find someone to shake it out of recent doldrums.

Seen as a frontrunner for the job since November, Krzanich inherits a company with margins of almost 60 percent that has all but extinguished rival Advanced Micro Devices Inc in the past few years, and is now the dominant maker of microprocessors for computers and servers, reported Reuters.

Intel announced in November that it was looking for a new CEO as Paul Otellini announced plans to retire.