Intel CEO Takes Control of Chip Division Amid Mobile Push
Intel Corp. (INTC) Chief Executive Officer Brian Krzanich, trying to speed up the company’s push into mobile markets, took direct control of the division that is responsible for designing chips.
The former factory manager, promoted to the company’s top job last week, now has the Intel Architecture Group reporting directly to him, Intel said today in a regulatory filing. Under former CEO Paul Otellini, the unit was run by David Perlmutter, who will now lead a “management transition effort.”
Intel will accelerate a push to get its chips used by makers of smartphones and tablets, Krzanich told Intel shareholders at the annual meeting last week, when he became CEO. He takes over as the company struggles to cut into Qualcomm Inc. (QCOM)’s lead in the $85.4 billion mobile-chip market.
“These changes reflect the imperatives that Brian outlined last week at the stockholder meeting,” said Chuck Mulloy, a spokesman for the Santa Clara, California-based company. “They are designed to clarify management roles and accelerate Intel’s market performance.”
Newly promoted President Renee James will oversee Intel’s manufacturing operations. Mike Bell, co-leader of the company’s mobile-phone chip business, is being moved to a new position where he will be responsible for “new devices,” according to Mulloy. Vice President Hermann Eul will continue on as head of the mobile and communications group that Bell is leaving.
Chief Financial Officer Stacy Smith, who reports to Krzanich, has been given additional responsibility for Intel Capital and the company’s internal use of information technology.
Intel shares advanced less than 1 percent to $24.15 at the close New York, leaving them 17 percent higher this year.
To contact the editor responsible for this story: Tom Giles at email@example.com