Intel, the largest chip manufacturer in the world, has named Brian Krzanich, a 30-year veteran of the firm, as its new CEO.
The Intel board of directors unanimously elected Krzanich, who has held the role of Intel COO since January 2012, as the sixth CEO in the company's history. He replaces Paul Otellini, who formally steps down from the position of CEO on 16 May, the date of Intel's annual stockholder meeting.
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52-year-old Krzanich started his career at Intel as an engineer at the age of 22, moving up in the company through a variety of technical and management positions.
"I am deeply honoured by the opportunity to lead Intel," Krzanich said on his election as Intel CEO.
"We have amazing assets, tremendous talent, and an unmatched legacy of innovation and execution. I look forward to working with our leadership team and employees worldwide to continue our proud legacy, while moving even faster into ultra-mobility, to lead Intel into the next era."
The firm has also appointed Renée James as president, a role which, like Krzanich, she'll assume on 16 May.
"I look forward to partnering with Renée as we begin a new chapter in Intel's history," said Krzanich.
"Her deep understanding and vision for the future of computing architecture, combined with her broad experience running product R&D and one of the world's largest software organizations, are extraordinary assets for Intel."
The new appointments come at a time when Intel, while still the largest manufacturer of chips for PCs, is presiding over a market where sales of desktop and laptop computers are in decline. That puts Intel in somewhat of a bind as its share of the market for smartphone and tablet chipsets is much lower.
Intel's first quarter profits for 2013 were down by 25 per cent compared with the same period in 2012, but the firm has stuck to its forecasts of a slight increase in revenue for the year as a whole.
