After investor pressure, Intel says CEO to step down
AFP
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An Intel sign is seen at the Intel Museum in Santa Clara, California on November 4, 2016. (Photo: AFP)
Intel CEO Bob Swan will step down next month, the computer chip giant said on Wednesday, weeks after a hedge fund sent a letter demanding changes in its business.
"Intel today announced that its board of directors has appointed 40-year technology industry leader Pat Gelsinger as its new chief executive officer, effective February 15, 2021," the company said in a statement. "He will succeed Bob Swan."