Intel seeks external "parachute" CEO
According to reports, Intel is searching for a new CEO, focusing on external candidates, and has hired the executive search firm Spencer Stuart to assist in finding new leadership
Where to find Intel's new CEO?
On December 3rd, Eastern Time, Bloomberg reported that Intel is looking for a new CEO, focusing on external candidates, and has hired executive search firm Spencer Stuart to assist in finding new leadership.
Target candidates include Matt Murphy, head of Marvell Technology, and former Cadence Design Systems CEO Lip-Bu Tan. Additionally, Intel may also consider talent from competitors such as TSMC, AMD, and NVIDIA, or recruit from its largest customers.
Currently, CFO David Zinsner and Executive Vice President Michelle Johnston Holthaus are serving as interim CEOs of Intel.
The sudden departure of former CEO Pat Gelsinger has left the company facing an urgent leadership transition. Over the past three years, Gelsinger focused on the daunting task of revitalizing Intel but failed to rebuild the internal leadership training system, resulting in a shortage of internal candidates.
Since its establishment in 1968, Intel's leaders have mostly been promoted from within, and analysts believe that bringing in talent from outside that can quickly effect change is not easy, and finding suitable candidates capable of managing Intel's complex business is particularly challenging. The new CEO will need time to recover the over $20 billion in revenue losses incurred over the past few years due to competition.
However, despite facing severe challenges, Intel remains a significant player in the technology industry, with over 70% of personal computers and servers worldwide relying on Intel processors