INTC Stock Surges 7% on News of Ouster of Intel CEO Bob Swan
Jan 14 2021 · 10:37 UTC | Updated
Jan 14 2021 · 13:37 by Bhushan Akolkar · 2 min read
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Bob Swan will be stepping down two years after his promotion to the CEO position. The latest decision of ouster comes as Intel has been lagging behind in rolling out its next-generation chips and losing ground to its competitors.
On Wednesday, January 13, the stock of Intel Corporation (NASDAQ: INTC) surged nearly 7% closing at $56.95. The stock price surged on the news that the Intel CEO Bob Swan will be stepping down next month on February 15.