Intel CEO to step down in May

November 19, 2012 2:42 PM GMT

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Chipmaker Intel Corp said on Monday that its chief executive Paul Ottelini would retire in May at its annual shareholder meeting.

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The 62-year-old Ottelini was the fifth CEO of the company, stepping into the post in the second quarter of 2005.

Intel's board of directors said it would consider internal and external candidates to be the next CEO. It said in a statement that it expected its "leadership transition" would last six months.

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(Reporting By Liana B. Baker; Editing by Gerald E. McCormick)

Copyright 2012 Thomson Reuters. All rights reserved.
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