Page 63 - Daniel Loeb News Today

Richard Drew/AP Intel is replacing its CEO after two years, with newcomer Pat Gelsinger starting in the role in February. Intels stock jumped 7 per cent on Wednesday on news of the change at the top. The California company said that the change in leadership is unrelated to its financial performance last year, but the surprise shakeup followed several weeks of investor activism by hedge fund Third Point, which had pushed for big changes. Intel acknowledged in late December that it had receive...

Intel sacks Bob Swan as CEO after investor discontent over failed acquisitions and lost customers, tapping Pat Gelsinger for the top job.

Intel CEO Bob Swan will step down next month, the computer chip giant said today, weeks after a hedge fund sent a letter demanding changes in its business.

Intel CEO Bob Swan will step down next month, the computer chip giant said on Wednesday, weeks after a hedge fund sent a letter demanding changes i...

Intel Ousts CEO Bob Swan VMware chief Pat Gelsinger named as successor after hedge fund Third Point called for sweeping change at the semiconductor giant The tech battle between the U.S. and China has battered TikTok and Huawei and startled American companies that produce and sell in China. WSJ explains how Beijing is pouring money into high-tech chips as it wants to become self-sufficient. Video/Illustration: George Downs/The Wall Street Journal By Updated Jan. 1...

Intel says it will bring on current VMware CEO Pat Gelsinger Feb. 15 to replace Intel CEO Bob Swan.

Intel, urged "immediate change" at the company. Third Point CEO Daniel Loeb wrote to Intel chairman Omar Ishrak arguing that the U.S. will lose its leading-edge semiconductor supply if action isnt taken. Shares of Intel are up over 7% Wednesday on news CEO Bob Swan will be replaced by VMwares Pat Gelsinger. The surprise move comes after activist hedge fund Third Point LLC said "immediate change" is needed to reverse the semiconductor giants fortunes. Third Point CEO Daniel Loeb wrote to Intel c...

But Swan doesn’t have semiconductors in his DNA and is known as more of a software and finance executive than a man with deep technical expertise. He may have been given the CEO job, but it should have been clear from the outset he was never going to carry the company for the length of time of some of his predecessors. Under Swan’s leadership, Barron’s took a positive view of Intel stock in November, arguing that despite its troubles, the company would rise again. Wednesday’s decision ...

Following the announcement that Intel CEO Bob Swan will step down, effective 15th February, Pat Gelsinger will succeed him in the role

Its been a rough two years for the chipmaker.