Paul Otellini
Brian Krzanich

After an exhaustive months-long search, Intel has its new CEO. And the chip maker didn’t have to go far to find Paul Otellini’s replacement.

Today, Intel announced that COO Brian Krzanich will take over the top slot at the company’s annual shareholder meeting on May 16. The 52-year-old, who has worked at Intel since 1982, will be the sixth CEO in the company’s history.

“After a thorough and deliberate selection process, the board of directors is delighted that Krzanich will lead Intel as we define and invent the next generation of technology that will shape the future of computing,” said Chairman Andy Bryant in a statement.

Intel is a critical Microsoft partner, and the stock has slumped in the past year down 17 percent. Over the past five years, it is up just over one percent.

Krzanich, who previously led Intel’s 50,000-person manufacturing and technology group, will have a tough job in front of him as the age-old “Win-Tel” alliance faces threats. Smartphones, tablets and other connected devices are biting into the traditional PC market, a historical strong point for Microsoft and Intel.

In fact, Intel’s profit fell 17 percent last quarter, due in part to the weakening PC market.

“I look forward to working with our leadership team and employees worldwide to continue our proud legacy, while moving even faster into ultra-mobility, to lead Intel into the next era,” said Krzanich in a statement.

The appointment also could have ramifications for the Pacific Northwest, since Intel employs about 17,000 workers in Hillsboro, Oregon. In fact, the board also announced that Renée James — who had been based in Hillsoboro and oversaw the company’s software group — will take over as president. She will relocate to the company’s headquarters in Santa Clara. James, who ran Intel’s software groups such as Havok, McAfee and Wind River, sits on the boards of Vodafone Group and VMware.

 

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