Intel Chairman Craig Barrett to Step Down in May
Culminating a week in which Intel Corporation reported a drop in annual revenue of 2 percent, a cut in chip prices across the board, a planned workforce reduction of up to 6000 employees, and the closing of four manufacturing and testing facilities, the longtime leader of the world's largest microprocessor firm has announced his intention to step down.
Since joining Intel in 1974, Barrett has served in various management roles leading to his tenure as chief executive officer from 1998 to 2005.
"Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since," Barrett said in the 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 recently has been active in activities, including Intel's World Ahead Program, which brings information technology to emerging economies. He is also an advocate for international education and health-care initiatives.
Barrett also serves on the board of directors of the U.S. Semiconductor Industry Association and the National Academy of Engineering, among many other organizations. He is a senior member of the Institute of Electrical and Electronics Engineers and a recipient of the IEEE Robert N. Noyce Medal (â''For contributions to semiconductor manufacturing technology and leadership in business and in industry initiatives.â'').
"I want to thank Craig for his 35 years of tireless efforts on behalf of Intel," said Paul Otellini, Intel president and CEO.
"His 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. He has been my colleague, supervisor, mentor, and friend for these 35 years. I wish him the very best as he moves on to the next chapter in his life."
The announcement said Jane Shaw, a former pharmaceutical-industry executive who has served on Intel's board since 1993, will replace Barrett as chairman.