Intel CEO Bab Swan to step down next month, VMWare’s Pat Gelsinger to take over

CNBC has reported that Intel’s CEO, Bob Swan, would be stepping down from his position next month, allowing Intel veteran and former CTO Pat Gelsinger to take over. Pat Gelsinger is the current CEO of VMWare and was once Intel’s Chief Technology Officer.

Bringing Gelsinger on as CEO will give Intel a CEO with an engineering background, a factor which should please most critics. Bob Swan was Intel’s Chief Financial Officer until June 2018, when he became the company’s interim CEO after Brian Krzanich left the company. Swan became Intel’s official CEO in January 2019, after reportedly telling employees that he was not pursuing a permanent position as CEO. 

Making Pat Gelsinger will place the company’s control into an engineer’s hands, not a financier, a move that will hopefully allow Intel to get its technological roadmap back on track. Intel needs great engineering to make top-class products, making this move a positive one. Gelsinger’s experience at Intel will also prove valuable as he assumes his new post. 

Update – Intel has confirmed that Pat Gelsinger will become Intel’s CEO on February 15th and that the company expects to exceed its previously communicated earnings guidance for Q4 2020. 

Intel has also stated that they have made “strong progress” on its 7nm node and that it will update their shareholders on their progress during their next earnings call on January 21st. Below is a comment from Omar Ishrak, independent chairman of the Intel board.