What only happened? Intel on the tertiary day of CES 2022 revealed that Bob Swan volition be stepping downward as chief executive officeholder next month. Intel said the announcement is unrelated to the visitor'southward 2022 fiscal performance, calculation that it expects quaternary quarter revenue and earnings per share to exceed prior guidance.

Swan assumed the office of interim CEO post-obit the resignation of Brian Krzanich in June 2022 afterward Intel learned of a consensual relationship Krzanich had with an Intel employee. Following a seven-month search, Intel's board removed the acting tag and Swan officially became the seventh CEO in the company'southward history.

Swan will be replaced past Pat Gelsinger, "a proven applied science leader with a distinguished runway record of innovation, talent development, and a deep cognition of Intel," said Omar Ishrak, independent chairman of the Intel board.

Gelsinger, the start always chief technology officer for Intel, worked with the company for near 30 years earlier leaving in 2009 to take a task at EMC. Since 2022, he has served as the CEO of VMware. The software company is now searching for its side by side leader and has appointed Zane Rowe to serve as its interim CEO.

The final couple of years have been pretty bumpy for Intel. After pulling fashion ahead of rival AMD, the company seemingly got also content with its lead and eased its foot off the accelerator a bit. This gave AMD the leeway it needed to brand a surprising comeback with its Ryzen line of CPUs. Combine that with manufacturing issues and Apple's recent movement to custom Arm-based silicon and it's clear to see why Intel wants to become in a different direction.

At CES 2022 this week, Intel previewed its 11th gen Intel Core i9-11900K CPU.

Swan will pass the baton to Gelsinger on February 15, 2022. Intel share value is upwardly more than eight percentage on the news as of writing.

Image credit SiliconAngel, Michael Vi