Intel has poached the Chief Financial Officer George Davis from Qualcomm and offered him the role of Finance Chief, Qualcomm confirmed. Intel said Davis would start in his new role as its CFO from 3rd April.
Intel has been missing a head of finance for a few months now. “Since January, Intel has been working without a permanent finance chief,” said Bob Swan, CEO at Intel. “Our owners can expect a continued disciplined approach to capital allocation and a relentless focus on creating stockholder value,” he added.
“On behalf of the Executive Team, I want to thank George for his dedicated service over the last six years at Qualcomm,” said Qualcomm Chief Executive, Steve Mollenkopf told Reuters.
Davis and Swan have worked with each other in the past. The former executive was the CFO of Applied Materials Inc. at the time when Swan served on the board of directors and acted as head of its Audit Committee.