1. Intel Names VMWare’s Pat Gelsinger As New CEO
Intel’s board of directors set the chipmaker on a new path when it named VMware leader and 30-year Intel veteran Pat Gelsinger (pictured) as the company’s new CEO on Jan. 13. Gelsinger, who was previously VMware’s CEO for nearly nine years, stepped into the new role on Feb. 15, taking over from Bob Swan, who had only served in the top leadership for two years.
The CEO shakeup came after hedge fund Third Point gained a “significant stake” in the company and demanded the chipmaker explore strategic options, including selling off “failed acquisitions” and potentially its manufacturing operations, to regain technology leadership and recover from manufacturing struggles that have resulted in product delays.
On his second day on the job, Gelsinger told the company’s 110,000-plus employees that he has four priorities for Intel: “become the leader in every category” in which Intel competes, “execute flawlessly” to Intel’s commitments, “passionately innovate with boldness and speed,” and “reignite [Intel’s] culture to attract and motivate the best engineers and technologists.”