Intel Corporation (NASDAQ:INTC) announced that Justin Rattner, chief technology officer (CTO) and director of Intel Labs is stepping down from his position after turning 65 years old.
According to Intel Corporation (NASDAQ:INTC), its corporate bylaws mandate that “employees may not serve as corporate officers past the age of 65.” The company indicated that Rattner will return to assume a different role. He immediately took a personal leave to deal with a pressing family matter.
In his book, The Dhandho Investor: The Low–Risk Value Method to High Returns, Mohnish Pabrai coined an investment approach known as "Heads I win; Tails I don't lose much." Q3 2021 hedge fund letters, conferences and more The principle behind this approach was relatively simple. Pabrai explained that he was only looking for securities with Read More
Rattner May Continue In Another Role
Intel Corporation (NASDAQ:INTC) said that Rattner’s future position will be determined by management at later date. The company did not mention any names who would possibly serve as the next CTO and director of Intel Labs.
According to the company, Intel Labs will report to Renée James, president of Intel Corporation (NASDAQ:INTC) until further decisions are made regarding its leadership. “While we we’re certainly aware of Justin’s age, our management team will use this opportunity to evaluate how we organize our R&D efforts including Intel Labs,” according to Chuck Mulloy, spokesperson of the company in an e-mailed statement.
On the other hand, Intel CEO Brian Krzanich expressed his gratitude to Rattner for his leadership for creating one of the leading research organizations in the high tech industry. Krzanich was appointed in May to lead the company into a new generation and implement strategies for a faster shift into mobile business.
Rattner A Sought After Speaker
Intel Corporation (NASDAQ:INTC) emphasized that Rattner is a recognized leader in high performance computing worldwide, and the most sought after spokesperson in the field. He has been a prominent keynote speaker in every IDF conference since 2005.
Rattner has received different awards and recognition from the technology industry including the R&D Magazine R&D Magazine Scientist of the Year (1989), and Person of the Week by ABC News (1996). He recently received that Industry Luminary Award for 21st Century Industrial Innovation from the Open Innovation Strategy and Policy Group.
He is a trustee of the Anita Borg Institute for Women and Technology. Rattner also serves as Intel’s executive sponsor for Cornell University.
Intel Corporation (NASDAQ:INTC) hired Rattner in 1973. He became the first principal engineer of the company in 1979, and became its fourth fellow in 1988. Rattner was included in the first group of Intel fellows to become a senior fellow in 2001.