(BLOOMBERG) Intel Corp. President Renée James will step down to seek appointment as chief executive officer elsewhere in a reshuffle that cements CEO Brian Krzanich’s control over the world’s largest chipmaker.
James, Intel’s highest-ranking woman, didn’t specify where her next job will be, in a letter to employees Thursday. She had sought the top job two years ago before Intel picked Krzanich. The two executives took over their respective posts in May 2013 after being promoted to executive vice presidents while Intel was looking for a new chief executive.
“When Brian and I were appointed to our current roles, I knew then that being the leader of a company was something that I desired as part of my own leadership journey,” James said in the letter. “Now is the right time for me to take that next step.”
Her departure was announced with other leadership changes that show Krzanich is putting his stamp on the company and parting ways with deputies of his predecessor, Paul Otellini. Arvind Sodhani, president of Intel Capital, will retire in January after a 35-year career with the company. Wendell Brooks, head of mergers and acquisitions, will take an expanded role to also become president of Intel Capital.
James, who spent 28 years at Intel, doesn’t have a new job lined up and is leaving to carry out the search, according to a person with knowledge of the matter who asked not to be identified because the matter is private. Krzanich asked her to stay on during a transition period, according to the person.
James agreed to remain at Intel until January, the chipmaker said in a statement.
Intel’s reshuffle also represents the departure of executives who led or instigated failed or stalled attempts to expand the company beyond its dependence on the market for personal computer processors. Mike Bell and Hermann Eul, who led the phone chip business, are leaving the company as well. The mobile efforts had already been placed in the hands of Aicha Evans, who was today promoted to the company’s management committee.
In November 2012, then-CEO Otellini announced his departure and named three executive vice presidents: Krzanich, James and Chief Financial Officer Stacy Smith, marking them as the primary candidates to lead the company.
When Krzanich and James were promoted to their roles in 2013, they jointly pitched Intel’s board on their vision for the future of Intel and were appointed as a team.
The shares rose 1.2 percent to $30.53 at 10:01 a.m. in New York.