Intel Names Swan CEO as Chipmaker Faces Challenging Market
- Executive said several times that he didn’t want the job
- He becomes the seventh leader in Intel’s 50-year history
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Intel Corp. named Robert Swan as its seventh chief executive officer, filling the most prominent role in the semiconductor industry at a time when opponents are challenging the company’s 30 years of market dominance.
Swan, 58, has been interim CEO for seven months and chief financial officer since 2016. He had said on multiple occasions that he wouldn’t take the job. Todd Underwood, vice president of finance and director of Intel’s corporate planning and reporting, will become interim chief financial officer during a search for a permanent replacement, Intel said Thursday. The shares fell as much as 3 percent in U.S. trading.