Intel CEO Bob Swan steps down, VMWare’s Pat Gelsinger takes over

Intel CEO Bob Swan steps down, VMWare's Pat Gelsinger takes over

News Highlights: Intel CEO Bob Swan steps down, VMWare’s Pat Gelsinger takes over

After two years in office, Intel CEO Bob Swan is reportedly stepping down on February 15 and will be replaced by VMWare CEO Pat Gelsinger.

The chipmaker will officially make the announcement later on Wednesday, but sources told CNBC about the plan. Intel’s stock rose about 13% on the news, while VMWare’s stock price was slightly lower.

Swan was named Intel CEO in January 2019 following his role as interim CEO. During his tenure, Intel has faced fierce competition from rivals and has been plagued by slowdowns and other manufacturing issues.

In the summer of 2020, Intel postponed its latest chip generation amid rumors that Apple would change its Mac lineup to proprietary Apple Silicon. In the same year, competitor AMD beat Intel with the delivery of a new chip generation and Apple officially unveiled its M1 chip. Intel has also restructured some of its technology teams amid the chip troubles.

Gelsinger previously worked at Intel and was the main technology of the company …

Read more from source

Don’t Go Read more:

  • Check the latest Apple news updates and information.
  • Please share this news Intel CEO Bob Swan steps down, VMWare’s Pat Gelsinger takes over

    with your friends and family to support us your one share helps us a lot.

  • Follow us on Facebook and Twitter if you need more updates like this.
Compsmag is supported by its audience. When you buy through links on our website, we may earn an affiliate commission fee. Learn more
News - Tech News, Latest News, Business News and world News