Intel Corporation (NASDAQ:INTC)’s next CEO may be an internal candidate, at least that’s what Paul Otellini predicts.
Last summer it was reported the Otellini was planning on stepping down from the current position as chief executive officer for Intel Corporation (NASDAQ:INTC). Although the company said they would consider both internal and external candidates for the position. In the past, the chip maker has usually hired new faces from the outside, but Otellini promises this will be different.
According to the Bloomberg, Otellini shared the following thoughts during a recent conference chat, “It’s not up to me [to choose the next CEO], but I think that’s the most likely outcome. I’m very comfortable with the internal candidates. “In this environment, why take the risk and take the time? So my sense is that they will stay inside.”
Although Otellini isn’t selecting the next CEO, he doesn’t expect there to be too many changes with the company. He has worked for the company for nearly 40 years and during his position as CEO, and Intel Corporation (NASDAQ:INTC)’s earnings increased from $48.8 billion to $54 billion. Unfortunately, it was the company’s low impact on the mobile market has given the company some trouble and that’s part of the reason Otellini is stepping down. He added, “I don’t expect our strategy to change, I guess to address the elephant in the room. I think the Board is very comfortable with the strategy and assuming we stay inside, I think the management team is as well.”
There is a chance that Otellini knows who will replace him next year as CEO, but he’s not giving names. Interestingly enough, despite the forthcoming change, he doesn’t expect much change for the company and that could be a bad thing. Intel Corporation (NASDAQ:INTC) has been losing out, thanks to competition from ARM processors. Hopefully, Intel Corporation (NASDAQ:INTC) can find a way to make the necessary changes to break into the mobile market.