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Former VMware and EMC, Pat Gelsinger will be Intel’s new CEO

Tech industry veteran Pat Gelsinger will return to Intel after a 12-year hiatus. Having started his career at the processor giant, Gelsinger will succeed Bob Swan, who remains in the position of CEO until February 15. In addition to executive director, Gelsinger will join Intel’s board of directors.

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Gelsinger has more than four decades of experience in the technology industry, including 30 years at Intel. Since 2012, he was at the leadership of VMware, where he significantly transformed the company into a recognized global leader in cloud infrastructure, corporate mobility and cybersecurity, almost tripling the company’s annual revenue. Prior to joining VMware, he was president and chief operating officer of EMC.

“Pat is a proven technology leader with a distinct history of innovation, talent development and a deep knowledge of Intel,” said Omar Ishrak , Intel’s independent chairman, in a press release. “He will continue a values-based cultural leadership approach with a hyper focus on operational execution.”

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In the same statement, Ishrak states that Intel’s board, after careful consideration, concluded that “now is the right time to make this leadership change”. In the document, the company, however, highlights that the announcement has nothing to do with Intel’s financial performance in 2020. In the third quarter of last year, Intel saw its profit margin shrink. In total, for the period, it registered a profit of US $ 4.28 billion, which represented a drop of 28.6% compared to the same period in 2019.

“Intel expects its fourth quarter 2020 revenue and EPS to exceed its prior guidance provided on October 22, 2020. In addition, the company has made great progress in its 7nm process technology and plans to provide an update when reporting its complete results for the fourth quarter and the full year of 2020, as previously scheduled for January 21, 2021 ”, informed the company.

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