He previously served as CEO of VMware for eight years and as president and chief operating officer at EMC for three years. Most recently, Gelsinger served as the CEO of VMware since 2012, where he significantly transformed the company into a recognized global leader in cloud infrastructure, enterprise mobility and cyber security, almost tripling the company’s annual revenues. Pat Gelsinger, who began as Intel’s chief executive officer on Monday, Feb. 15, 2021, sent the following note to all Intel employees: Hi team! Pat Gelsinger will return to Intel on February 15 as the company's new CEO. Under Swan, the company has struggled, losing market share to competitors in key business segments and dealing with manufacturing delays. “With significant progress made across those priorities, we’re now at the right juncture to make this transition to the next leader of Intel. I was 18 years old when I joined Intel, fresh out of the Lincoln Technical Institute. Statements in this press release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. Pat Gelsinger, who today was named chief executive officer of Intel Corporation, effective Feb. 15, 2021, sent the following note to all Intel employees: I am thrilled and humbled to be returning to Intel as CEO. “After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat’s technology and engineering expertise during this critical period of transformation at Intel. The company has made strong progress on its 7nm process technology and will provide an update on its Jan. 21 earnings call. (Image credit: Intel) An engineer at the top is likely music to Intel fans' ears, and it's looking like shareholders' too. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Just over twenty years ago, Pat Gelsinger became Intel ’s first-ever chief technology officer. Gelsinger expressed nostalgia for the chip maker's glory days in a memo to Intel employees that Chipzilla saw fit to share with the world. The board is confident that Pat, together with the rest of the leadership team, will ensure strong execution of Intel’s strategy to build on its product leadership and take advantage of the significant opportunities ahead as it continues to transform from a CPU to a multi-architecture XPU company.”, “I am thrilled to rejoin and lead Intel forward at this important time for the company, our industry and our nation,” said Gelsinger. New Intel CEO Pat Gelsinger’s Top Four Priorities For Employees. In August 2012, Gelsinger became CEO at VMware (VMW). businessinsider.com A new top Intel exec explains how he's preparing the firm for its challenging next chapter Author of the article: Reuters. He added that Gelsinger will need to address Intel's loss of technology leadership and decide how much of its technology to continue manufacturing in-house. I am fully supportive of the board’s selection of Pat and have great confidence that, under his leadership and the rest of the management team, Intel will continue to lead the market as one of the world’s most influential technology companies.”. New York (CNN Business) Pat Gelsinger has a massive task ahead of him when he takes over as Intel CEO next month. All times are ET. This week, Intel announced CEO Bob Swan will be replaced by VMware CEO Pat Gelsinger.Facing stronger competitive challenges, Intel has struggled. The world’s best gaming PCs have lots of components in common. Intel Corp will replace Chief. Swan's tenure will draw to a close on 15 February and old hand (and current VMware CEO) Gelsinger will take control of the troubled chipmaker. Before joining EMC, he spent 30 years at Intel, becoming the company’s first chief technology officer and driving the creation of key industry technologies such as USB and Wi-Fi. "Intel has had a history of engineers becoming CEOs," Krewell said. From 2012-2020 he served as the CEO … In Wednesday's release, Intel said its board "concluded that now is the right time to make this leadership change to draw on Pat's technology and engineering expertise during this critical period of transformation at Intel," adding that the change will "ensure strong execution" of the company's new future. Important factors that could cause actual results to differ materially are set forth in Intel’s earnings release dated October 22, 2020, which is included as an exhibit to Intel’s Form 8-K furnished to the SEC on such date, and Intel’s SEC filings, including the company’s most recent reports on Forms 10-K and 10-Q. Gelsinger is a highly respected CEO and industry veteran with more than four decades of technology and leadership experience, including 30 years at Intel where he began his career. After completing nine years as CEO of VMware last week, Pat Gelsinger on Tuesday started work in the same job at Intel and prioritized delivering on promises and innovating quickly. Gelsinger was the executive who created the Intel Developer Forum, which kept Intel coupled to the market and affirmed its role as one of the two power players driving PCs and x86 servers. Intel sent shockwaves through the IT world Wednesday as it announced that VMware’s CEO, Pat Gelsinger, will be replacing Bob Swan next month as Intel’s new CEO. Pat Gelsinger doesn’t officially start his new job until Feb. 15, but the incoming Intel Corp. chief executive has already begun rallying the troops. Intel stock helped endear semiconductor stocks to investors. Tech Explainer: How do the new flip phones flip? Follow Intel CEO Pat Gelsinger’s journey ‘back home’ For Intel’s new chief executive officer, Pat Gelsinger, heading up the company is a bit like... Intel Core i9 gaming PCs: What’s the difference? Intel CEO Bob Swan is stepping down from his position, effective February 15, and will be replaced by Pat Gelsinger, who will leave his position as the CEO of VMware to take the role. Bob Swan was Intel's Chief … Factset: FactSet Research Systems Inc.2018. Gelsinger is a highly respected CEO and industry veteran with more than four decades of technology and leadership experience, including 30 years at Intel where he began his career. New Intel CEO Pat Gelsinger’s Top Four Priorities For Employees. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Bob Swan is gone, Pat is back, bringing back his 30 years of experience within the company and his technologist spirit. Flip phones are making a comeback. Intel expects its fourth-quarter 2020 revenue and EPS to exceed its prior guidance provided on Oct. 22, 2020. Since its birth more than 50 years ago, Intel has been an engine for innovation. Intel expects to exceed its previously communicated guidance for fourth-quarter 2020 revenue and earnings per share (EPS). Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Pat Gelsinger, CEO of VMware, will leave the company to become Intel Corp.'s CEO on Feb. 12. From 2012-2020 he … On Thursday’s fourth-quarter earnings conference call with Wall Street, Gelsinger sat in virtually with the CEO he is replacing, Bob Swan, and gave some glimpses of his strategy for the semiconductor … He was the architect of the original 80486 processor, led 14 different microprocessor programs and played key roles in the Core and Xeon families. BOSTON/SAN FRANCISCO (REUTERS) - Chipmaker Intel Corp said on Wednesday (Jan 13) it would replace chief executive officer Bob Swan with VMware's CEO Pat Gelsinger … I came to know Pat Gelsinger when he was in-line for the CEO job at Intel. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to market opportunity and anticipated trends in our businesses or the markets relevant to them, also identify forward-looking statements. This comes after an activist hedge fund urged 'immediate change' at the company. Former VMware CEO Pat Gelsinger took the helm as Intel's new CEO in February, returning to the chip giant after over 11 years. Bob has also been instrumental in reenergizing the company’s culture to drive better execution of our product and innovation roadmap. In its press release, Intel said the move "is unrelated to Intel's 2020 financial performance.". Executive Officer Bob Swan with VMware Inc CEO Pat. In addition, the company has made strong progress on its 7nm process technology and plans on providing an update when it reports its full fourth-quarter and full-year 2020 results as previously scheduled on Jan. 21, 2021. Gelsinger expressed nostalgia for the chip maker's glory days in a memo to Intel employees that Chipzilla saw fit to share with the world. All forward-looking statements included in this release are based on management’s expectations as of the date of this release and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. "There's been exceptions of course, but in general, there's been a strong preference to have a technical CEO.". The chipmaker recruited Gelsinger from software firm VMWare, calling him a "highly respected CEO and industry veteran" in a release. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. VMware CEO Pat Gelsinger is returning to Intel, where he worked for 30 years, as the CEO replacing Bob Swan. Gelsinger left Intel in 2009 and worked at EMC until 2012. A have allowed rivals He leaves Intel in a strong strategic and financial position, and we thank him for his ongoing guidance as he works with Pat to ensure the leadership transition is seamless.”, “My goal over the past two years has been to position Intel for a new era of distributed intelligence, improving execution to strengthen our core CPU franchise and extending our reach to accelerate growth,” said Swan. It has also, in many ways, been part of my family. On January 13, 2021, Santa Clara based Intel Corporation named high-tech industry veteran Pat Gelsinger as the company’s new CEO.This incredible achievement is the latest in a long history of successes that began in 1981, when Pat graduated from Lincoln Tech in … To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com. Former VMware CEO Pat Gelsinger took the helm as Intel's new CEO in February, returning to the chip giant after over 11 years. Enter a new Intel CEO, Pat Gelsinger. Intel Corp will replace Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger next month, CNBC reported on Wednesday, citing sources. Copies of Intel’s Form 10-K, 10-Q and 8-K reports may be obtained by visiting our Investor Relations website at www.intc.com or the SEC’s website at www.sec.gov. “Having begun my career at Intel and learned at the feet of Grove, Noyce and Moore, it’s my privilege and honor to return in this leadership capacity. The engineer earned the distinction after leading … Intel ( INTC ) shares rose nearly 8% … Intel has appointed VMWare CEO Pat Gelsinger as its new chief executive. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Intel now has a new CEO, with Pat Gelsinger returning to take the company back into its leadership role. (Credit: Intel Corporation) » Download all images (ZIP, 10 MB) Today marks Intel’s official CEO transition as Pat Gelsinger becomes the company’s eighth chief executive officer in its history. Gelsinger, who spent 30 years working at Intel before departing in 2008, will leave VMWare to succeed current Intel CEO Bob Swan in February. Prior to joining VMware, Gelsinger was president and chief operating officer of EMC Information Infrastructure Products at EMC, overseeing engineering and operations for information storage, data computing, backup and recovery, RSA security and enterprise solutions. "He understands the way Intel works and the technologies it has," Priestley said. (Reporting by … Gelsinger left Intel in 2009 and worked at EMC until 2012. Pat Gelsinger has taken the post of CEO of Intel. “Pat is a proven technology leader with a distinguished track record of innovation, talent development, and a deep knowledge of Intel. Pat Gelsinger Takes The Reins As Intel CEO, Promises Technology Leadership Resurgence BECOME A PATRON Roughly a month ago, we got the somewhat surprising news that … Pat Gelsinger Arrives. Patrick Paul Gelsinger (born 1960 or 1961) is an American business executive who is currently serving as CEO of Intel. BOSTON/SAN FRANCISCO (REUTERS) - Chipmaker Intel Corp said on Wednesday (Jan 13) it would replace chief executive officer Bob Swan with VMware's CEO Pat Gelsinger … Intel does not undertake, and expressly disclaims any duty, to update any statement made in this report, whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law. Gelsinger, who has been VMWare's CEO for about the past decade, will take the helm at Intel on February 15. "I hope that they'll come out with a real clear strategy about how they'll address the manufacturing issues, the competitive issues they face going forward," Gartner's Priestley said of Intel. The company's shares are down nearly 4% from a year ago, despite the bump they received from the news Wednesday. After completing nine years as CEO of VMware last week, Pat Gelsinger on Tuesday started work in the same job at Intel and prioritized delivering on promises and innovating quickly. Getty Images He will continue a values-based cultural leadership approach with a hyper focus on operational execution,” said Omar Ishrak, independent chairman of the Intel board. Article content. Gelsinger is an accomplished CEO and industry veteran with more than four decades of technology and leadership experience - … Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Gelsinger was the executive who created the Intel Developer Forum, which kept Intel coupled to the market and affirmed its role as one of the two power players driving PCs and x86 servers. (Photo by Drserg/Shutterstock) “I have tremendous regard for the company’s rich history and powerful technologies that have created the world’s digital infrastructure,” the new Intel CEO said. He called Swan "a very capable CEO," but noted that "people were hoping [for] someone with more technical background" at the helm of Intel -- someone like Gelsinger. Prior to his role at VMWare Gelsinger spent three decades at Intel, becoming became the company's first-ever chief technology officer and helped establish Intel's position as a market leader. Gelsinger shared his thoughts on … I am delighted to be writing to you today as the CEO of this iconic company. The semiconductor company, whose products have served as the brains … https://hothardware.com/news/intel-bob-swan-ceo-pat-gelsinger Gelsinger is an accomplished CEO and industry veteran with more than four decades of technology and leadership experience – including 30 years at Intel, where he began his career. Both companies rely on innovations from chipmakers, insight that analysts say Gelsinger will bring as he returns to the chip giant. (Bloomberg) -- Intel Corp. Chief Executive Officer Bob Swan will be replaced by VMware Inc. CEO Pat Gelsinger, who’s returning to the company … New York (CNN Business) Intel has named Pat Gelsinger as its new chief executive officer, replacing Bob Swan after a rocky two-year run. At VMWare, Gelsinger oversaw massive growth. Intel Corp will replace Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger next month, CNBC reported on Wednesday, citing sources. By Mike Rogoway | The Oregonian/OregonLive Incoming Intel CEO Pat Gelsinger stands to collect well over $100 million at his new job. The … By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. Pat Gelsinger has a massive task ahead of him when he takes over as Intel CEO next month. Words such as “anticipates,” “expects,” “intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” “will,” “would,” “should,” “could,” and variations of such words and similar expressions are intended to identify such forward-looking statements. Such issues have meant Intel's stock has also lagged behind competitors. Gelsinger also drove PC design competitions in the company. Today marks Intel's official CEO transition as Pat Gelsinger becomes the company's eighth chief executive officer in its history. Meanwhile, Intel itself has a new CEO with Pat Gelsinger returning in January from VMware to lead the organization. On the other hand, Gelsinger could make much more dramatic moves, shedding its vertically integrated heritage and transforming Intel into a … Going forward, Intel will be led by its onetime chief technology officer Pat Gelsinger. Feb. 16, 2021 — This week marks Intel’s official CEO transition as Pat Gelsinger became the company’s eighth chief executive officer in its history. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. In the Zone. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Intel to replace CEO Bob Swan with Pat Gelsinger - CNBC . Feb. 16, 2021 — This week marks Intel’s official CEO transition as Pat Gelsinger became the company’s eighth chief executive officer in its history. Before joining EMC, he was the first Chief Technology Officer of Intel, previously senior vice president and general manager of the Digital Enterprise Group at Intel, before leaving after working there for more than three decades. Today marks Intel's official CEO transition as Pat Gelsinger becomes the company's eighth chief executive officer in its history. Gelsinger brings to the top job a deep well of experience, both from within Intel and the broader business ecosystem in which the company operates. Disclaimer. Gelsinger, who has been VMWare's CEO for about the past decade, will take the helm at Intel on February 15. Gelsinger is … We apologize, but this video has failed to load. Gelsinger has his work cut out for him. As it grapples with the manufacturing difficulties, Intel also faces greater competition than it's "ever had in the past" in its core business areas, said Alan Priestley, vice president analyst for Gartner. By Jordan Valinsky and Clare Duffy, CNN Business, Updated 2043 GMT (0443 HKT) January 13, 2021. I believe Intel has significant potential to continue to reshape the future of technology and look forward to working with the incredibly talented global Intel team to accelerate innovation and create value for our customers and shareholders.”, “The board and I deeply appreciate Bob Swan for his leadership and significant contributions through this period of transformation for Intel,” continued Ishrak. Gelsinger is a highly respected CEO and industry veteran with more than four decades of technology and leadership experience, including 30 years at Intel where he began his career. Chipmaker Intel Corp. said on Wednesday it would replace chief executive officer Bob Swan with VMware Inc. CEO Pat Gelsinger beginning Feb. 15. He then served as President and COO of Dell EMC, which sells IT infrastructure solutions such as data storage, cloud computing and analytics, before taking on the top job at VMWare. On Feb. 15, he will replace a fiscally minded steward in current Intel CEO Bob Swan, who … SANTA CLARA, Calif., Jan. 13, 2021 – Intel today announced that its board of directors has appointed 40-year technology industry leader Pat Gelsinger as its new chief executive officer, effective Feb. 15, 2021. VMWare posted $10.8 billion in 2020 revenue, more than double the $4.6 billion it earned in 2012, the year Gelsinger became CEO. Today marks Intel’s official CEO transition as Pat Gelsinger becomes the company’s eighth chief executive officer in its history. AMD's stock, by contrast, is up 87% over the past year, and TSMC's has grown nearly 99%. Intel’s news source for media, analysts and everyone curious about the company. Today’s announcement is unrelated to Intel’s 2020 financial performance. Executive joins chip maker’s earnings call to discuss manufacturing plans, and provides the type of optimism and leadership that only a longtime Intel engineer could muster Pat Gelsinger, … “I believe Intel has significant potential to continue to reshape the future of technology.” I have tremendous regard for the company’s rich history and powerful technologies that have created the world’s digital infrastructure. The company’s shares were up more than 8 … But "there have been a lot of questions about Bob Swan's leadership" after execution problems have raised questions over the past year about Intel's position as the market leader, said Kevin Krewell, principal analyst at Tirias Research. New York (CNN Business)Intel has named Pat Gelsinger as its new chief executive officer, replacing Bob Swan after a rocky two-year run. There were essentially two parts to Intel’s fourth-quarter 2020 earnings call on Thursday: the actual results, and the homecoming of former Intel … Other names and brands may be claimed as the property of others. Among Intel's biggest challenges at the moment: The company has fallen behind competitors in producing the. Intel CEO Bob Swan's time at the head of Chipzilla is coming to an end and Intel's first CTO, Pat Gelsinger, is to replace him. https://www.crn.com/.../7-big-things-to-know-about-intel-s-new-ceo-pat-gelsinger Taiwan Semiconductor Manufacturing Company. © Intel Corporation. "Because he's been at EMC and subsequently VMWare, I should hope he'll bring some interesting insights to the senior management team inside Intel, from an (equipment manufacturer) perspective and a major (software vendor) perspective ... he's seen it from the other side of the table.". Pat Gelsinger Becomes CEO of Intel. Pat Gelsinger Arrives. Gelsinger is an accomplished CEO and industry veteran with more than four decades of technology and leadership experience – including 30 years at Intel, … Gelsinger is an accomplished CEO and industry veteran with more than four decades of technology and leadership experience - including 30 years at Intel… (Reporting by … Gelsinger started his professional career with the company, working for it from 1979 until 2009. Full fourth-quarter results will be released Jan. 21, 2021, as scheduled. “Pat is a proven technology leader with a distinguished track record of innovation, talent development, and a deep knowledge of Intel. Most stock quote data provided by BATS. Intel Pledges $5M to Develop HBCU Tech Law and Policy Center, Bob Swan will remain in CEO role until February 15. Going forward, Intel will be led by its onetime chief technology officer Pat Gelsinger. Analysts are forecasting declines in 2021, though. "(Gelsinger has) got to come out with a real clear strategy there," Priestly said, "something that gives the industry confidence that they're going to recover.". Gelsinger is an accomplished CEO and industry veteran with more than four decades of technology and leadership experience – including 30 years at Intel, where he began his career. Swan, by contrast, has a background in business management and finance; he was Intel's chief financial officer before becoming CEO. I came to know Pat Gelsinger when he was in-line for the CEO job at Intel. Intel CEO Bob Swan is stepping down from his position, effective February 15, and will be replaced by Pat Gelsinger, who will leave his position as the CEO of VMware to take the role. Gelsinger will also join the Intel board of directors upon assuming the role. He will succeed Bob Swan, who will remain CEO until Feb. 15. Intel's data platforms group CTO joined about a month before former VMware CEO Pat Gelsinger took the reins as the chip giant's new CEO. Bringing Gelsinger on as CEO will give Intel a CEO with an engineering background, a factor which should please most critics. All rights reserved. Gelsinger also has a technical background — he architected the original 80486 processor at Intel and has associate's, bachelor's and master's degrees in electrical engineering — which has proven helpful to other Intel leaders in the past, as well as competitors like AMD CEO Lisa Su. “Under his leadership, Intel has made significant progress on its strategy to transform into a multi-architecture XPU company to capitalize on market shifts and extend Intel’s reach into fast-growing markets. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Intel stock jumped 7% on news Pat Gelsinger would join as CEO. Swan was named Intel's permanent CEO in January 2019 following the departure of its previous CEO Brian Krzanich, who was forced to resign in June 2018 because of a "past consensual relationship with an Intel employee.".