Craig Barrett Retiring After 35 Years With Intel

announced Friday

Barrett, who served as Intel chief executive for seven years after replacing Andy Grove in 1998, joined Intel as a technology development manager in 1974. In addition to his current role as chairman of Intel's board of directors, Barrett has in recent years been a prominent actor in such initiatives as Intel's own World Ahead Program and the UN Global Alliance for Information and Communications Technology and Development, which he currently chairs.

"Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since," Barrett said in a statement. "I'm extremely proud to have helped achieve that accomplishment and to have the honor of working with tens of thousands of Intel employees who every day put their talents to use to make Intel one of the premier technology companies in the world.

"I have every confidence that Intel will continue this leadership under the direction of Paul Otellini and his management team."

Barrett, who was succeeded by Otellini as CEO in 2005, stood in for the absent Otellini to deliver the keynote at last year's Intel Developer Forum in San Francisco.

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The retiring chairman's "legacy spans the creation of the best semiconductor manufacturing machine in the world, leading Intel for seven years as we emerged into a global powerhouse, and most recently as our industry's senior statesman and ambassador who has advocated the benefits of education and technology as forces for positive change," Otellini said.

Shaw joined the Intel board in 1993 and has been elected by the board to take over the non-executive chairmanship in May. She retired in 2005 as chairman and CEO of Aerogen, a specialty pharmaceutical company.