On Monday, Intel hired Dow Chemical’s Paula Tolliver as its chief information officer as it continues its executive shuffle. Tolliver replaces Kim Stevenson, who will now run Intel’s biggest division, which incorporates PCs, cell phones and the rising Internet of Things (IoT).
Intel CEO preferring outsiders
Under CEO Brian Krzanich, Intel has broken a long convention of internal promotions and started selecting top executives from outside. Other outside hires include Steven Fund (ex-Procter & Gamble executive), Venkata “Murthy” Renduchintala, who was poached a year ago from rival Qualcomm, and Wendell Brooks from Allen & Company.
Renduchintala is surely Intel’s most prominent hire from outside. Many see him as Intel’s #2 executive in the wake of spending almost 10 years at Qualcomm. In her new position, Stevenson will report to Renduchintala.
Tolliver put in 20 years at Dow Chemicals where she likewise held the title of CIO.
“Paula brings both a depth and breadth of business, technology and strategic acumen that will be a tremendous asset to Intel,” said Intel Chief Financial Officer Stacy Smith, whom Tolliver will report to. “We look forward to her leadership of Intel’s global IT organization and her contribution to corporate-level strategic initiatives.”
Krzanich has promised to expand diversity in administration positions. With the addition of Tolliver, Intel’s main 24 officials now include four women. A month ago, the chip maker added a second woman to its 11-member board, naming University of California specialist Tsu-Jae King Liu as a director.
Questions about growth
Stevenson succeeds Kirk Skaugen, the former Intel vice president who resigned from the company in April, at a time when the chip maker was preparing for one of the greatest overhauls in its history. Stevenson will be chief operating officer of her division, which is known internally as “Client and Internet of Things Businesses and Systems Architecture (CISA).”
Intel is refocusing its efforts to concentrate less on the fading PC business and more on data centers and the Internet of Things, an industry term for another class of associated machines and wearable computers. Last spring, the chip maker started a yearlong procedure of axing 12,000 jobs to cut expenses and restructure its business. Intel has said the rebuilding plan is “solidly on track,” yet it hasn’t meant much development as investors were not inspired by the quarterly results it reported not long ago.
On Monday, Intel shares closed down 0.03% at $34.85. Year to date, the stock is down about 1%, while in the last year, it is up more than 20%.