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Intel CEO Bob Swan to step down in February, VMware CEO Pat Gelsinger to replace him – CNBC

Swan was named CEO in January 2019 after serving as interim CEO for seven months.

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Intel CEO Bob Swan is stepping down effective Feb. 15 and will be replaced by VMWare CEO Pat Gelsinger, Intel announced Wednesday.
Intel’s stock was up about 10% after CNBC’s David Faber broke the news prior to the announcement. VMWare’s stock was down more than 5%.
Swan was named CEO in January 2019 after serving as interim CEO for seven months.
During Swan’s tenure, Intel has suffered blows from competitors. Over the summer, Intel reported that its latest generation chips would be delayed while…

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