Intel CEO and president Paul Otellini, 62, has apparently tired of beating back the dragons that periodically threaten to devour the company and has decided to retire early.
Intel CEOs have all previously stepped down when they were 65, when retirement is mandatory, with their designated replacement clear. This is not the case this time.
The board, reportedly surprised by his decision, asked him to hang around for six months while it searches for his successor and starts an “orderly” transition. He will leave in May, his anniversary.