It was a busy week for Intel as it announced the promotion of CFO Bob Swan to CEO, ending a seven-month search, set a deadline for the life of its ill-fated Itanium processor, and is now reportedly in the running to buy Mellanox.
I don’t think for a second these are unrelated. Swan is a money guy. Ending the life of Itanium and making a strategic acquisition are right in his wheelhouse.
Swan’s elevation is just what analyst Jim McGregor called for a few weeks ago when I asked what was taking so long in the CEO search. Swan, 58, who joined Intel as CFO in October 2016, becomes Intel’s seventh CEO and only its second non-engineer. The first was the late Paul Otellini, and he worked out very well.