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Article posted: 11/19/2012 4:34 PM

Intel CEO Paul Otellini to retire in surprise move

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Intel president and CEO Paul Otellini plans to retire in May 2013 after nearly 40 years with the company. Intel's board will look at company executives as well as external candidates to replace Otellini, and on Monday promoted three executives to executive vice president.

ASSOCIATED PRESS

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Intel CEO Paul Otellini is retiring in May, giving the world's largest maker of microprocessors six months to find a new leader as it confronts two major challenges: a shaky economy and a shift toward mobile devices that is reducing demand for its PC chips.
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