World's largest chip maker Intel Corporation(NASDAQ:INTC) is likely to find a successor to current CEO Paul Otellini from within the company itself.
This supposition was made by Otellini, who steps down in May next year. Addressing a conference in San Francisco, Otellini said that this was the most likely outcome.
“Even if you brought in Mr. or Ms. Perfect, that person is going to take two years to figure out the culture and the people and how the system works etcetera. In this environment, why take the risk. ... So my sense is that they will stay inside.”
Some of the probable candidates from within the company which have been doing the rounds are David Perlmutter, Intel’s chief product officer; Stacy Smith, chief financial officer; and Thomas Kilroy, general manager of Intel’s sales and marketing group.
Intel is going through tough times with slowing sales of personal computers, which has been affected by the rapid growth of tablet PCs and smartphones. The company is trying to gain market share using ARM Holdings' technology.
At the conference Otellini however downplayed any major strategy shift.
“I don’t expect our strategy to change to address the elephant in the room,” he said. “I think the board is very comfortable with the strategy and, assuming we stay inside, I think the management team is as well.”
There is still a lot of speculation about the reason behind Otellini's decision to step down so early.