Barrett takes the reins from Grove

Barrett takes the reins from Grove
David Manners Intel is engaged in the critical process of managing the succession, as chairman Andy Grove hands over the chief executive officer (CEO) title to Intel’s president, Craig Barrett. That means Barrett takes over the day-to-day running of the company while Grove, though still full-time as chairman, concentrates on strategic issues. Barrett becomes the fourth CEO in Intel’s 30 year history, and the first one outside the founding troika of Bob Noyce, Gordon Moore and Grove. So far Intel has been credited for managing a successful series of successions. Ted Hoff, who invented the microprocessor while at Intel in the early 1970s, told EW: “At first, Bob Noyce was at the head. He could break free of past traditions and do something really new – he was the most adventurous of the three. As the company became more established and growing, Gordon took over. He was more conventional than Bob but more futuristic. Then, when the whole company could have got out of control, Andy took over. He’s hard-nosed – keeps everyone on target.” In Grove’s time as CEO, the company’s annual revenues rose from $2bn to $25bn and Intel became the world’s fourth most valuable company in terms of market capitalisation. Barrett is credited with revolutionising manufacturing efficiency at Intel’s plants.


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