Intel has named COO Brian Krzanich its next CEO; he'll take over the helm from current CEO Paul Otellini on May 16. Mr. Krzanich, who first joined Intel in 1982, was named COO early last year after having overseen Intel's manufacturing operations.
Mr. Brian Krzanich will become the sixth CEO of Intel and his appointment is viewed as a possible directional change for the company as it seeks more business for its Intel Custom Foundry, the contract semiconductor manufacturing division of the company. Traditionally, Intel has been using its manufacturing assets to make chips for itself; however, the company been seen to gradually warming up to its foundry business model and put itself in direct competition with industry incumbents like TSMC and GlobalFoundries.
The new CEO's appointment comes at a time when Intel is attempting to establish its foothold in the fast growing smartphone and tablet segment. The company is confident Krzanich will be the right person to steer the company in a new direction. "The board of directors is delighted that Krzanich will lead Intel as we define and invent the next generation of technology that will shape the future of computing," said Andy Bryant, chairman of Intel. As early as last November, COO Brian Krzanich was named as a potential successor to Paul Otellini.