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[News] Intel Reportedly Eyes External Candidates for CEO, Including Marvell’s Chief and ex-Cadence CEO
Who would be taking the challenge of turning the tables for Intel after Pat Gelsinger’s retirement? According to the latest Bloomberg report, the struggling giant is prioritizing external candidates in its search for a new CEO.
The potential contenders, to name a few, are said to include Marvell CEO Matt Murphy and Lip-Bu Tan, former CEO of Cadence as well as a former member of Intel’s board, according to sources cited by the report.
Former TSMC Chair: A Reasonable Candidate
Previous rumors have been circulating that Intel also approaches former TSMC Chairman Mark Liu for the position. According to Bloomberg’s analysis, Liu began his career at Intel and retired from TSMC earlier in 2024, and might be a candidate Intel could attract. Despite being older than the typical American CEO—Liu turns 70 this year—his experience could make him an appealing choice, Bloomberg adds.
According to Bloomberg, the company has engaged executive search firm Spencer Stuart to assist in identifying and evaluating candidates, which marks a significant departure from Intel’s traditional preference for internal promotions.
Gelsinger’s hasty leave didn’t give him the opportunity to revive one of Intel’s notable traditions—an executive training program that once produced leaders for the broader industry, according to the report. Currently, Chief Financial Officer David Zinsner and Executive Vice President Michelle Johnston Holthaus are stepping in as interim co-CEOs.
However, considering the highly technical nature of the semiconductor industry, Intel may hesitate to appoint CFO Zinsner as a permanent CEO, as per Bloomberg. During former CFO Bob Swan’s tenure as Intel’s interim leader from 2019 to 2021, his background used to raise concerns about whether his grasp of the technical aspects was sufficient to guide strategic decisions, the report notes.
Two Recruit Pools: Former Executives, Large Clients
According to Bloomberg, since its founding in 1968, nearly all of Intel’s leaders have risen from within the company. Swan was the sole exception, when he was appointed as a temporary solution after the board dismissed Brian Krzanich because of his relationship with an Intel employee.
According to Bloomberg, one way to balance the insider-outsider dynamic could be to bring back a former Intel executive who departed during the management upheavals of recent years, including Stacy Smith, a former Intel CFO and sales executive who joined the company’s board this year, and Gregory Bryant, who led Intel’s personal computer division before departing for Analog Devices in 2022.
Another potential talent source would be Intel’s largest customers, as many of whom have launched their own chip development initiatives with varying degrees of success, as per Bloomberg. The report identifies Johny Srouji, senior vice president of Apple’s highly successful internal chip division, as a key figure.
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(Photo credit: Marvell)
