Intel’s current CEO, Paul Otellini, announced he would retire last fall on November 20. Reportedly, the vetting process for the company’s new CEO lasted six months.
“After a thorough and deliberate selection process, the board of directors is delighted that Krzanich will lead Intel as we define and invent the next generation of technology that will shape the future of computing,” said Andy Bryant, chairman of Intel, in a statement Thursday morning. “Brian is a strong leader with a passion for technology and deep understanding of the business.”
Intel’s board elected Renée James, to be president of the company. She will assume her role on May 16 with Mr. Krzanich.
Mr. Krzanich was a front runner for the position, which drew from internal candidates picked by the board.