Paul Otellini, the former CEO of Intel, announced last year in November that he would be retiring this year. This meant that Intel needed to find a replacement CEO. The competition boiled down to two candidates: Intel's current COO and current CFO. We now know who won. Welcome to Brian Krzanich, the former COO of Intel.
Krzanich has been with the company for more than 31 years, an impressive track record for anyone. He worked his way up from a process engineer all the way to COO. The stock market seems to be indifferent about the selection as Intel's stock price hasn't fluctuated much throughout the day.
I'm sure you'll all join us in wishing Brian Krzanich the best.