Intel CEO Paul Otellini to Step Down in May

(Ping! Zine Web Tech Magazine) – Intel will be losing one of its most high profile employees: CEO Paul Otellini. On Monday, the company announced that he’d retire after almost 40 years with the popular chip maker.

“After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership,” Otellini announced in a press release.

The CEO’s departure will be official in May when the company is expected to hold its annual stockholders’ meeting. Meanwhile, Intel’s board is expected to select a new chief executive during its transition period.

Otellini previously held other titles at Intel including Executive VP and GM of the company’s Architecture Group. He had been CEO since 2005 and also serves as a member of Google’s board of directors.