Intel’s search for a new CEO continues. According to insiders, Intel chairman Andy Bryant has recently indicated that a candidate from outside the company is now a possibility, says Bloomberg.
Former CEO Brian Krzanich was dismissed on 21 June 2018. This happened after the board of directors discovered that he was having an extramarital affair with an employee. He succeeded former CEO Paul Otellini in 2013, when he announced his early retirement.
Female candidates
On January 24, Intel will publish its figures. According to Bloomberg, the board of directors wants to have elected the new CEO before that time. Until then, Bob Swan, Intel’s chief financial officer, is acting CEO. In an interview on CNBC last week, Swan said he did not want to take on the role of CEO on a permanent basis. Potential CEO candidates such as Sanjay Jha, Anand Chandrasekher and Renee James are now out of the race.
According to Bloomberg, there are several strong female candidates to lead Intel, a rare development in an industry that almost never promotes women to CEO roles. For example, competitor Advanced Micro Devices, under CEO Lisa Su, is currently enjoying a revival of the company, and James was previously President at Intel before setting up her own startup. There is also talk of Diane Bryant, who recently left Google. She previously ran Intel’s profitable data center chip company.
In its diversity report, Intel recently reported an increase in the number of female employees. In 2018, women accounted for 28.8 percent of the workforce; in 2015, it was 24.7 percent. Of these, 23.9 percent are technical staff and 19.4 percent occupy a management position.
Tough job
According to Bloomberg, the future CEO of Intel will be faced with a tough job. This person will be in charge of a company that achieves record results, but where there is increasing competition. The new CEO will have to convince investors that Intel’s loss of production leadership, described by Bloomberg as the cornerstone of Intel’s dominance, will not cost investors a market share in the lucrative semiconductor market. The new CEO should focus on orders that go beyond personal computer and server chips.
The new CEO will have to make a lot of difficult decisions in a short period of time. The company can perform well in the short term due to the strong demand for PCs and servers, but decisions and strategy in the longer term will soon need a CEO, says Kevin Cassidy, analyst at Stifel Nicolaus & Co. He also believes that Intel should quickly resolve production delays or encourage customers to look for better performing chips.
No CEO bad for business
According to Bloomberg, a number of analysts are worried about the fact that Intel has been without a CEO for more than six months now. Before a semiconductor factory is built, you’ll soon be a year away. It also takes a long time for upgrades and design changes to generate revenue. That makes it difficult to change course quickly. They should put pressure on the appointment of a new CEO and only then make decisions to give visibility to the entire company and its customer base, says Matt Ramsay, analyst at Cowen & Co.
Related: Intel-CEO steps down: how to proceed?
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
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