Paul Otellini is stepping down from the top job at Intel, leaving no clear successor for the first time at the world’s biggest chipmaker as it struggles to find its way in the fast-growing markets for smartphones and tablets.
The unexpected news was announced yesterday by a company previously known for careful planning of its leadership transitions. Mr Otellini, 62, is only the fifth chief executive in its 44-year history and could have stayed on until he was 65.
His decision to step down was a personal one after nearly 40 years at the company, according to people close to Intel. “The board accepted his decision with regret,” Intel said.
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