Bloomberg News

Intel CEO Says Replacement Likely to Come From Within

May 15, 2012

Intel Corp. (INTC:US) Chief Executive Officer Paul Otellini said Chief Operating Officer Brian Krzanich is one of “a stable of strong candidates” to eventually replace him.

The company will probably continue a tradition of filling the top position from within its own ranks, Otellini said today in a television interview broadcast on “Bloomberg West” from the company’s headquarters in Santa Clara, California.

“We’re a company that’s always gone from within in terms of these promotions,” he said. “I think that makes a lot of sense for most companies, particularly given the track record in the Valley lately.”

Otellini, 61, as well as his two predecessors, Craig Barrett and Andy Grove, spent time in the role of chief operating officer before taking on the CEO role at Intel, the world’s largest semiconductor maker. Otellini said his job is to groom a number of candidates for the board to choose from.

Under Otellini, Intel has jump-started a decade-long effort to parlay its dominance in the personal-computer (INTC:US) processor market into chip orders from mobile-phone makers. The company has announced five new customer relationships this year, leading to the first phone with an Intel processor going on sale in India last month.

Mike Bell, a former Apple Inc. executive who was hired by Otellini to co-head the company’s mobile-phone division, said there may be more announcements to come. He declined to comment on whether Apple will use Intel chips in its mobile products.

Intel will continue to try to create products that are so good that “people can’t afford not to take a look,” Bell said.

“We are looking to partner with as many people as we can in the space,” he said. “I think you’ll see more to come as the year goes on.”

Intel shares (INTC:US) fell less than 1 percent to $26.88 at the close in New York. The stock has increased 11 percent this year, compared with a 6 percent gain in the benchmark Philadelphia Semiconductor Index.

To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.net; Emily Chang in San Francisco at echang68@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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