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Intel CFO George Davis To Retire In May 2022

When Intel CFO George Davis departs next year, he will become Intel’s fourth most highly compensated executive from 2020 to leave the company since last year, underlining the major leadership changes experienced by the semiconductor giant since then.

Intel CFO George Davis will retire from the company in May 2022, the chipmaker said Thursday.

The Santa Clara, Calif.-based company made the announcement in its third-quarter earnings release and said Davis will continue to serve as CFO until the chipmaker finds a successor.

Intel hired Davis as CFO and executive vice president in April 2019 as the successor to the chipmaker’s previous top finance executive, Bob Swan, who had become CEO three months before. Swan stepped down as Intel’s CEO and was replaced by Pat Gelsinger in February of this year.

[Related: Intel Hires Top AMD GPU Architect To Lead Xe IP Road Map]

As CFO, Davis is responsible for overseeing the company’s global finance organization, which includes accounting and reporting, tax, treasury, internal audit and investor relations. He is also in charge of Intel’s IT organization, the company has previously said.

Davis was Intel’s fourth most highly compensated executive last year, earning a total compensation of $10.7 million in the 2020 fiscal year between base salary, incentive pay, stock awards and other compensation.

The three other most highly compensated executives from 2020—Swan, former data center executive Navin Shenoy and former Chief Engineering Officer Venkata “Murthy” Renduchintala--left the company over the past 14 months, underlining Intel’s major leadership changes since last year.

Prior to joining Intel, Davis was CFO and executive vice president at Qualcomm, where he led the company’s global finance organization, investor relations team and IT organization. He was also a member of Qualcomm’s executive committee, which guides the company’s global strategy.

Prior to joining Qualcomm, Davis was the CFO of Applied Materials, a Santa Clara, Calif.-based equipment and services supplier for the semiconductor and flat-panel display industries.

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