Intel Executive, No. 3 Employee, Vadasz Retires

Vadasz, 66, was the No. 3 employee at Intel and a member of the company's founding team in 1968. Design teams led by Vadasz also developed the first erasable, programmable read-only memory, and the first microprocessor.

Vadasz served on Intel's board of directors from 1988 to 2002, when he reached the board's mandatory retirement age. He will remain director emeritus.

Intel vice president John H.F. Miner will succeed Vadasz as president of Intel Capital, which Vadasz established in 1991.

*This story courtesy of Techweb.com.