Intel Names Brian Krzanich Next CEO Succeeding Otellini

The time has come for Paul Otellini to step aside and make way for new blood. Serving as only the fifth Chief Executive Officer (CEO) in Intel's history, the 45-year-old face of the world's largest semiconductor company said several months ago that he planned on retiring in May 2013, so now there will be a sixth CEO. His name is Brian Krzanich.

Intel's board of directors unanimously agreed that Krzanich is the best man for the job, and feeling up to the challenge, he will assume his new role at the company's annual stockholders' meeting on May 16, Intel announced today.

"I am deeply honored by the opportunity to lead Intel," said Krzanich. "We have amazing assets, tremendous talent, and an unmatched legacy of innovation and execution. I look forward to working with our leadership team and employees worldwide to continue our proud legacy, while moving even faster into ultra-mobility, to lead Intel into the next era."

Brian Krzanich

At age 52, Krzanich has held several technical and leadership positions at Intel since joining the company over three decades ago. He's viewed by the board as having an "open-minded approach to problem solving," a trait that he'll have to tap into as he navigates through a transition period, one in which mobile is gaining in popularity while traditional desktop and laptop PCs change in form and function.

Krzanich will assume his role just ahead of Intel's Haswell launch, and hot on the heels of a quarter in which the Santa Clara chip earned a $2 billion profit, a staggering figure though down 25 percent compared to a year earlier.

In related news, Intel's board of directors elected Renée James, 48, to serve as the company's president. She will also assume her role on May 16.