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Intel ceo Paul Otellini to retire

Intel's president and ceo, Paul Otellini is to retire in May after nearly 40 years at the company.

"Otellini has been a very strong leader, only the fifth ceo in the company's great 45 year history, and one who has managed the company through challenging times and market transitions," said Andy Bryant, chairman of the board. "The board is grateful for his innumerable contributions to the company and his distinguished tenure as ceo over the last eight years."

Bryant and his fellow board members will now conduct the process to choose Otellini's successor. Intel said it will consider both internal and external candidates.

"I've been privileged to lead one of the world's greatest companies," Otellini noted. "After almost four decades with the company and eight years as ceo, it's time to move on and transfer Intel's helm to a new generation of leadership.

"I look forward to working with the management team during the six month transition period, and to being available as an advisor to management after retiring as ceo."

Laura Hopperton

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