Paul Otellini has become Intel’s fifth chief executive officer. The move was made official at this week’s annual shareholder meeting after he was chosen last year to succeed Craig Barrett.
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Barrett, Intel CEO since 1998, will become chairman of Intel’s board of directors. Joint Intel founder Andy Grove will step down as board chairman, but continue to advise it.
Although Otellini now has the top executive job, Barrett intends to remain an important figurehead for the company by continuing to speak at global events.
Otellini comes from a sales and marketing background, and is Intel’s first CEO without an engineering background. He has been credited for making Intel more focused on market opportunities rather than simply developing innovative products.
Otellini was previously president and chief operating officer. His successor has yet to be found by Intel.