Intel stock sinks after the chipmaker names Robert Swan as permanent CEO
Intel's stock slid Thursday after the chipmaker named interim CEO Robert Swan to the position permanently, ending a months-long search following the ouster of Brian Krzanich for what it called a "consensual relationship" with an employee.
Swan, 58, has been interim CEO for seven months and chief financial officer since 2016. He was also elected to the board, the company said. Several media outlets including Bloomberg previously reported Swan didn't want the job.
Shares of Intel fell roughly 2.8 percent in early trading Thursday.
"When I was first named interim CEO, I was immediately focused on running the company and working with our customers," Swan said in a statement. "When the board approached me to take on the role permanently, I jumped at the chance to lead this special company. This is an exciting time for Intel: 2018 was an outstanding year and we are in the midst of transforming the company to pursue our biggest market opportunity ever."
Shareholders will be watching for Swan to continue diversifying Intel's portfolio outside of the PC.
The appointment marks Intel's seventh CEO in 50 years. Krzanich resigned as CEO and from the board in June.
Todd Underwood, currently vice president of finance, will take over as interim CFO while the company searches for a permanent CFO.
Analysts and media outlets speculated early on about about several external candidates, including two female executives who had left Intel relatively recently: former data center group head Diane Bryant and former president Renee James. Bryant's successor, executive vice president Navin Shenoy, was also thought to be a contender, along with Lisa Su, CEO of Intel rival AMD, and Sanjay Jha, who stepped down as CEO of chip manufacturer GlobalFoundries earlier this year.
Intel last week reported fourth quarter results beat expectations on earnings but fell short on revenue.
Under Krzanich, who took over from Paul Otellini in May 2013, Intel shrunk the percentage of revenue focused on PCs by 12 percentage points. At the same time, it raised the mix of revenue from data center products by 11 percentage points, filings show.
The company also acquired companies with an eye toward diversifying, including artificial intelligence chip company Nervana, programmable chip company Altera and car chip company Mobileye. Krzanich's Intel explored wearables with the help of acquisitions like fitness watch maker Basis Science but ultimately ended up moving away from wearables and closed its New Devices Group.
source cnbc
Industry: Data Centre News
Latest Jobs
-
- Head of CSOC (Cyber Security Operations Centre), London. Greenfield opportunity
- London
- £90,000+
-
CH7928 Identifier Project Head of CSOC (Cyber Security Operations Centre), London. Greenfield UNIQUE opportunity to establish, manage and grow a world class CSOC. Headquartered in the UK, the CSOC will grow and deliver cyber services into an international and underdeveloped market. As a greenfield site the Head of CSOC will be the first person on the ground to build a capability and team around them. The role will include, but not be limited to; Setting up and establishing a CSOC monitoring service using IBM QRadar and Palo Alto CORTEX XSOAR. Develop roadmap for future CSOC capabilities. Establish, develop processes, playbooks and use cases. Recruit, Build and train a specialist team. Build relationships with key clients- onboard and scale. The successful candidate must have experience working within / leading a technical Cyber Security monitoring capability. Technical experience working with IBM QRadar and Palo Alto CORTEX XSOAR will be highly beneficial, although other SIEM / Security Orchestration, Automation and Response tools are welcome as the skillset is transferable. This brings significant opportunity and welcomes creativity / best practice. Frequent travel to London office will be required. Chris.holt@dclsearch.com 07884666351
-
- Aruba Data Centre Network Engineer
- Berkshire
- Upto £500 a day
-
**Outside of IR35 contract** Aruba Data Centre Network engineer is required to start ASAP. You will be responsible for Data Center and Campus Network - Design and implementation of Aruba CX Switches, We are looking for an experienced data centre engineer who is happy to work remotely and autonomously Experience you will need to have, Solid Networking experience with good knowledge of -Routing & Switching - MP-BGP EVPN VXLAN, MPLS/VPLS, EIGRP, BGP, OSPF and Multicast, Experience with Aruba switches ideally the CX range Ideally SC cleared or able to become SC Cleared. This will be a 3 month rolling contract
-
- Network Engineer-
- London
- 65000 plus bonus
-
An exciting opportunity has arisen with a global financal business that are looking for an experienced Network engineer with strong Firewall experience in particular Checkpoint You will be responsible for help to support and manage the network infrastructure both LAN/ WAN And VPNs and will have a focus on network secuirty (Checkpoint firewall and Security controls) This is a multi-Site environment with few thousand end users, As the business is growing so is the network so great opportunity to join an expanding business that will help cross-train you in both cloud and onsite solutions. They are looking for a strong network engineer with a mix of expereience o Experience with Azure networking managing VNETs, ExpressRoute, VPNs and other Azure network features such as NSG/MS loadbalancer is required. Working with Check Point firewalls in Azure is desirable. o In-Depth understanding of networking fundamentals including: Network topology, Data Centre Infrastructure systems, Layer 2/Layer 3 Switching, VLANs, Routing, VPNs, High availability protocols. o Demonstrable hands-on experience with Meraki Switches and wireless infrastructure, Arista software, Forcepoint Proxy (would be a strongly desirable), Citrix Netscaler, and Forescout CounterACT Location can be flexible, they are looking for someone who would be happy to do a hybrid working model 3 days at home 2 days in the office.
-
- Technical Cyber Trainer, United Kingdom
- London
- 80,000
-
Technical Cyber Trainer, United Kingdom Cyber trainer needed to build a new cyber training capability to develop a team of international security analysts. Technical Cyber training experience is a MUST. Any experience delivering technical Blue team based training is highly desired. This is a UK based role. Able to travel to London on occasion- when required. Agile, flexible working. A technical background is highly desirable and prefered. The role Aid in the setup, fine tuning and on-going customisation of Technical Cyber Security’s training platform. CyberBit experience desirable. Design, develop and deliver the internal syllabus to train employees with low cybersecurity knowledge to become analysts. Manage, monitor, support and assess learners. Fine tuning training and bespoke development. Manage, monitor and assess SOC analysts. Support employees through their career. The ability to deliver remote training is essential. This is a UK based role. Able to travel to London on occasion- when required. Agile working. Apply today to find out more information. Chris.Holt@dclsearch.com +447884666351