Intel has announced that its president and CEO, Paul Otellini, has decided to retire as an officer and director at the company's annual stockholders' meeting in May, starting an orderly leadership transition over the next six months. Otellini's decision to retire will bring to a close his career of nearly 40 years of continuous service to the company. The board of directors will conduct the process to choose Otellini's successor and will consider internal and external candidates for the job. In addition, the company announced that the board has approved the promotion of three senior leaders to the position of executive vice president, including Renee James, head of Intel's software business; Brian Krzanich, chief operating officer and head of worldwide manufacturing; and Stacy Smith, chief financial officer and director of corporate strategy.
