"Within one month our revenues had jumped over 50%."

Intel CEO Surprises With Sudden Retirement

Intel CEO retiresIn a move that surprised Intel’s board, Intel CEO Paul Otellini has announced he will retire. The typical CEO retirement protocol is to retire at 65, but Otellini is 62:

SAN FRANCISCO (AP) — Intel CEO Paul Otellini is retiring in May, giving the world’s largest maker of microprocessors six months to find a new leader as it tries to navigate a shaky economy and adapt to a shift toward mobile devices that has reduced demand for its computer chips.

Although Otellini’s impending departure was announced Monday, he notified Intel Corp.’s board of his retirement plan last Wednesday. The decision caught the board by surprise because Intel’s protocol typically calls for its CEOs to step down when they turn 65. Otellini is 62.

“The decision was entirely Paul’s,” said Intel spokesman Paul Bergevin. “The board accepted his decision with regret.”

via News from The Associated Press.

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Author:Sunny Mui

Sunny Mui is the chief editor of Globial Talks Business and is always interested in the latest international business news,

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