Intel hires 30 year veteran as new CEO

INTEL has appointed an insider of 30 years as its new chief executive, despite calls for the company to inject new blood at the top.

The world’s biggest chipmaker yesterday announced Brian Krzanich, Intel’s 52-year-old chief operating officer who joined in 1982, as its new head as the company attempts to adapt to a declining PC market.

The company, which has been phenomenally successful making processors for desktop and laptop computers, has struggled to make a dent in the increasingly lucrative market for smartphone and tablet chips, which is dominated by designs from British firm ARM Holdings.

Intel’s previous chief executive Paul Otellini announced his surprise retirement last year, and Krzanich is set to take over his new role on 16 May.