By ET Bureau - February 04, 2019 2 Mins Read
Robert Swan has become the full-time CEO of Intel, six months after being named the interim CEO. He takes over the position as the seventh CEO in Intel’s 50-year history. He will also be joining the chipmaker’s board of directors.
Prior to this, Swan had been Intel’s CFO since late-2016. He has also held positions at eBay and Electronic Data Systems Corp. Swan got the interim CEO role as word emerged of then-CEO Brian Krzanich’s “past consensual relationship” with an employee.
“In my role as interim CEO, I’ve developed an even deeper understanding of Intel’s opportunities and challenges, our people and our customers,” Swan said in a release to give the news. “When the board approached me to take on the role permanently, I jumped at the chance to lead this special company. This is an exciting time for Intel: 2018 was an outstanding year and we are in the midst of transforming the company to pursue our biggest market opportunity ever.”
The interim CFO position is being filled by Todd Underwood, the company’s VP of Finance. Intel is also looking to permanently fill the interim CEO position. It took six months for Swan to accept the CEO position because he was reportedly not interested in it.
Swan has a huge task ahead- that of getting Intel back into the reckoning. The company has been struggling to adapt to a changing environment, after missing out on the mobile revolution. In the chip industry as well, last year Samsung overtook Intel for the title of the world’s largest chipmaker. Trying to get back on the line, Intel has started planning to focus on 5G revolution, but the slowdown in the smartphone market may make that also difficult.
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