Intel’s Otellini to Retire in 2013

The CEO of Intel, Paul Otellini, will retire from the company in May of 2013, Intel announced Monday. The company did not announce a successor and will conduct a search that considers both internal and external candidates.

Otellini, a frequent International CES keynoter, had been CEO since replacing Craig Barrett in 2005. He has been with the company continuously since 1974.

“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said in a statement “After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership. I look forward to working with Andy, the board and the management team during the six-month transition period, and to being available as an advisor to management after retiring as CEO.”

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