Intel President Steps Down
Renee James leaves after 28 years with the chipmaker, as Intel Capital chief also departs
Intel has announced a major shake-up that has seen a number of high-powered executives, including company President Renee James, leave the company.
James will leave Intel in January after 28 years with the company, during which she held roles including executive vice president and general manager of the software and services group and COO of the company’s online services and data centre services business.
An Intel statement said she would pursuing an external chief executive role, following her appointment alongside current CEO Brian Krzanich in May 2013.
All change
“When Brian and I were appointed to our current roles, I knew then that being the leader of a company was something that I desired as part of my own leadership journey. Now is the right time for me to take that next step,” James (pictured left) said in a message distributed internally to Intel employees obtained by Re/code.
The company also announced a number of other leadership changes, with Hermann Eul, a corporate VP and general manager in charge of its mobile and communications group, and Mike Bell, a corporate VP and general manager of Intel’s new devices group, will both leave the company.
There were also promotions for Aicha Evans, a general manager in the Communications and Devices Group, who will now run Intel’s mobility strategy, and Josh Walden, a general manager in its New Technology Group, to run product and research efforts in areas like wearable computing.
Lastly, there was confirmation of the planned retirement of Arvind Sodhani, the President of Intel’s venture capital arm, Intel Capital, after 35 years with the company.
“I have been a financial investor all my professional life, and that will most likely not change,” Sodhani said.
During his tenure, Sodhani helped build up Intel Capital to a business with over 400 companies in its portfolio, having invested more than $11.5 billion in over 1,400 companies in 57 countries.
Intel Capital regularly invests between $300 million and $500 million each year from its own cash flow, the company said.
Wendell Brooks, who heads Intel’s mergers and acquisitions division, will take on the additional role as president of Intel Capital, with Sodhani assisting him from September.
Intel will hope that today’s moves will help shake up the company following somewhat poor recent financial results.
The first quarter of 2015 saw Intel make $12.8 billion in revenues, with an operating income of $2.6 billion, a performance described by Krzanich as ‘flat’.
