Renee James announced Thursday she will step down in January.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Intel President Renee James announced Thursday she will step down in January.
The move came as a part of a rash of changes in management at the struggling tech company.
“We are aligning our leadership structure to continue to become more efficient in order to deliver the benefits of our strategy even faster than before,” said CEO Brian Krzanich in a written statement. “Over the past 28 years, Renée has contributed immeasurably to Intel. On behalf of the Board and management team, we sincerely thank Renée for her tireless efforts toward building the business that we have today, and we fully support her in this decision.”
Also announced Thursday, Arvind Sodhani, president of Intel Capital, is retiring in Janaury. Replacing him will be president of mergers and acquisitions Wendell Brooks. Intel Capital is the investing arm of the company and is one of the most successful corporate venture investors.
(SOURCE: Portland Business Journal)
James will pursue a CEO position elsewhere.
“Intel has been my second family,” James wrote in a message to employees, published on the company’s site. “It is an amazing company that has changed the way people live their lives, and I am proud to have contributed to that in a meaningful way.”
Under CEO Brian Krzanich the chipmaker has labored to diversify beyond its core PC business but has been unable to gain traction in the fast-growing smartphone market and other emerging segments of new technology.
Other changes:
- Intel executives Hermann Eul, manager of its communications group, and Mike Bell, who led Intel’s effort to develop microprocessors for new devices, are also leaving the company. Both segments have been a disappointment for Intel thus far and Bell’s exit isn’t a surprise — he was reassigned to an unspecified role in April.
- Aicha Evans, general manager of Intel’s communications and devices group, was promoted to Intel’s management committee.
- Intel’s technology and manufacturing group, which had reported to James, will now report directly to Krzanich.
(SOURCE: OregonLive.com)
The decision comes amid a round of layoffs at the company, which has struggled as PC sales slow nationwide.
