Intel's Grove surprises as he steps aside

Intel’s Grove surprises as he steps aside
Tom Foremski
In a surprising move, Intel CEO Andy Grove said he will be replaced by Craig Barrett, president and chief operating officer but will retain his chairman title.
Grove told reporters that he “was ready” for a change and plans to spend his time looking at issues facing Intel and the PC industry as a whole. He leaves the CEO position formally in May following a board of directors’ vote confirming Barrett’s appointment.
The Hungarian born Grove leaves the high profile CEO position at a time of considerable challenges for Intel. It is facing strong competition in the low end microprocessor market forcing it to cut prices and lower profit margins. Intel is searching for ways to boost demand for high end microprocessors which traditionally have provided lucrative profit margins that it uses to fund new product development and build ever more expensive fabs.

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