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Intel CEO Bob Swan Steps Down

Intel CEO Bob Swan Steps Down

Intel Corp. ousted Chief Executive Bob Swan in a surprise move after activist hedge fund Third Point LLC urged sweeping changes at the company to rev

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Intel Corp. ousted Chief Executive Bob Swan in a surprise move after activist hedge fund Third Point LLC urged sweeping changes at the company to revive the U.S. semiconductor giant’s fortunes.

Intel on Wednesday said Mr. Swan would be replaced by VMWare CEO Pat Gelsinger effective Feb. 15. Mr. Gelsinger once served as Intel’s technology chief. 

More to follow

Write to Asa Fitch at [email protected]

This post first appeared on wsj.com

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