Company Co-Founder Andrew Grover to Leave Intel

November 14, 2004 by Jeff Shepard

Intel Corp. (Santa Clara, CA) reported that Andrew Grove, a founder of the company, prepared to step down as chairman. Grove will be the last of Intel's three founders to leave the company when he retires from his post in May 2005.

Long-time employee Paul Otellini, who is currently president and chief operating officer, was named chief executive, replacing Craig Barrett, who will succeed Grove as chairman of the board. Grove will remain as a senior adviser to the board and senior management.