Intel Makes Bob Swan Its Permanent CEO, Maintaining A Steady Course Away From The PC

Intel’s choice is a surprise, as Swan reportedly didn’t want the job.

- Mark Hachman

After searching more than half a year for a new chief executive, Intel decided the best candidate was the guy already running the company: Robert “Bob” Swan, the “acting” and now permanent CEO.

Technically, Intel promoted from within to hire Swan, who had served as the company’s chief financial officer since 2016. But Swan’s resume paints him as an outsider, with stints at fab tools maker Applied Materials, and nine years as the CFO at eBay. Swan has had CEO experience, but only running Webvan, an online grocery service that entered bankruptcy in 2001.

There’s no question Swan comes as a surprise, as he was reported not to have wanted the job in the first place. “Swan told me that as he was in the interim CEO role, he started to like and enjoy it,” analyst Pat Moorhead said in an email. “I do think Intel’s strategy is the right one; the company needs to improve its execution, and bringing in an outsider without Intel experience didn’t make sense.”

As the chief financial officer, Swan’s role within Intel was often behind the scenes. To many, then, he’s a closed book. Intel’s message in announcing Swan is of a guy determined to stay the course.

LITTLE TO SAY

Take, for example, Swan’s letter (go.pcworld. com/swlt) to his employees, partners, and customers. We learn little: Swan’s four key takeaways are that Intel will be “bold and fearless,” that its strategy of transforming from a PC-centric to a data-centric company remains unchanged, that it must continue to execute, and that it must continue to evolve its culture—boldly.