Intel, the world’s chipmaker leader, has changed its headmaster. The giant named Robert Swan as their new CEO after a seven-month search for the perfect candidate to fill the position.
More so, Intel also elected Swan to be a part of their board of directors.
Who is Robert Swan, the new Intel CEO?
Robert Swan was Intel’s CFO since 2016 and also server as Intel interim CEO since the company started to look for a new leader in early 2018.
Swan was adamant he didn’t want the job. He only stepped into the interim role after former CEO Brian Krzanich decided to resign over a problematic relationship with an employe. Such relationship violated Intel’s company policy.
Rampant speculation pointed Intel would name a new CEO during its earnings call last week. However, that didn’t happen.
During that time, Swan said on the call that the company was still looking for the perfect candidate. He added: “I am convinced the board will close on a new CEO shortly. In the meantime, we will not be distracted by the void.” He also sent an open letter for Employees to Partners on his first day as a CEO.
A new leader for Intel
Investors, PC build enthusiasts, and other tech-related professionals would have to pay a closer look to Swan.
Swan will steer the company through supply issues and the problems it’s been having with its 10nm process nodes. Even more, Swan reaches the position just after AMD becomes the innovation leader in the chipmaker market by building and selling the first 7nm chips inside their AMD Radeon GPUs.
So far, Intel keeps saying their 7nm process node will be ready for late 2019 retail launch.
Plans for the future?
Intel’s vice president of finance and director of corporate planning and reporting, Todd Underwood, will step up the company’s interim CFO until Intel begins searching for a new man to fill that position.
Regarding the new CEO, Intel chairman Andry Bryant said:
“The search committee conducted a comprehensive evaluation of a wide range of internal and external candidates to identify the right leader at this critical juncture in Intel’s evolution”
Bryant explained Swan was the best choice to direct Intel into the path of evolution. Swan already did an “outstanding job” as the company’s interim CEO for the last seven months. Swan’s results reflected on Intel’s great 2018 sells, as well as their advance towards stackable chiplets, a technology that could give Intel a significant edge over its competition.
Bryant also assures Swan’s performance, knowledge in the business, and command of growth strategies has given Intel respect from their customers, owners, and colleagues.
However, Intel’s stock was down 2.5 percent right when Swan was appointed as new CEO.
We will be waiting for Swan’s exact results by the end of 2019. One of its most significant tasks, as I said, is advancing on the 7nm process nodes. If not, Intel risks substantially falling behind AMD and Nvidia.
More so, Nvidia is also working on their next-gen processors, called “Ice Lake.” It’s still unclear wheater or not these processors will feature 7nm technology.