Posted on November 19, 2012 10:00 AM by Rob Williams
After having spent nearly four decades with Intel, the previous eight of which he presided over the company as President and CEO, Paul Otellini has announced that he will be retiring from the company in May. To many, Paul was the face of Intel, and during his tenure, he’s seen the company rise from a smaller company with huge potential to become a market leader. In recent years, other high-level executives at Intel have left, but Paul could arguably have the biggest impact on the company.
“I’ve been privileged to lead one of the world’s greatest companies,” Otellini said. “After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership. I look forward to working with Andy, the board and the management team during the six-month transition period, and to being available as an advisor to management after retiring as CEO.”
At this time, Intel’s Board of Directors will work to find someone to replace Paul for the May transition.
In a press release issued earlier today, Intel gives off some stats to prove the success Paul brought to the company while acting as CEO. In those 8 years, the company generated $107 billion from operations, made $23.5 billion in dividend payments and increased the quarterly dividend 181% from $0.08 to $0.225. In 2005, when Paul took the reign, Intel’s annual revenue was $38.8 billion. Today, it’s $54 billion.
In addition to these financials, Paul lead the company through some significant market transitions, and oversaw major breakthroughs being developed, such as the High-K metal gate transistor, and more recently, 3D tri-gate transistors. Of course, it’s hard to look over the fact that since 2005, Intel’s processors have continued to become faster and faster, while at the same time becoming even more power efficient.
There’s no word about what Paul plans to do with his retirement, but whatever he chooses to do, he’s leaving behind some huge shoes to fill – especially in a time when Intel is still trying to make its mark in the sizzling smartphone and tablet market.