Wednesday, January 13, 2021

After Intel CEO Swan’s cleanup job, Gelsinger will move the company forward

Pat Gelsinger’s return to Intel after a 12-year absence has been greeted positively, with the stock jumping 8% on the news Wednesday, analysts lauding it, and apparently even Intel staff approving, indicating he remained popular there despite leaving the firm in 2009.

Replacing outgoing CEO Bob Swan with VMware CEO Gelsinger, isn’t a sign of failure on the part of Swan, who took over in early 2018. Intel is expected to meet or exceed Q1 revenue and income projections when it reports earnings Jan. 21. The fact that Swan is being given time to clean out his desk—he is staying on until mid-February—says that this is a civil parting, unlike that of his predecessor, Brian Krzanich, whom they couldn’t get out the idoor fast enough.

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Thanks to Andy Patrizio (see source)

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