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Intel Stock Up After Announcement Of New CEO

OPB | May 2, 2013 2:23 p.m. | Portland

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Intel stock increased a half a percent Thursday after it was announced Brian Krzanich will step in as the new Chief Executive Officer.

Brian Krzanich

Brian Krzanich

Courtesy Intel

Krzanich is 52 and currently serves as chief operating officer. He will take over May 16th — succeeding Paul Otellini, who unexpectedly announced his resignation in November.

Portland investment advisor Bill Parish owns Intel stock and says Krzanich has been with the company for 30 years and is a chemical engineer.

“People forget what a great motivator it is for other employees to see someone promoted internally to the top.”

The world’s largest semiconductor manufacturer has major production and research centers in Hillsboro.

The company also named Renee James as its next president. Parish says that puts her a stone’s throw away from completely shattering the glass ceiling at a major tech firm.

Intel is in the middle of a significant transition as mobile devices become more popular than personal computers.

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