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Intel names former exec Pat Gelsinger as new CEO

13 January 2021
Dan Ackermann

Intel said Wednesday that VMware CEO Pat Gelsinger will return to the chipmaker as CEO, with current chief Bob Swan stepping down as of Feb. 15.

Why it matters: Intel faces a host of challenges from manufacturing issues to competition from rival AMD to Apple's move to use homegrown chips in the Mac.

Between the lines: Intel's woes have spurred calls for a leadership shake-up including from activist investor Third Point.

The other side: The company said in its press release announcing the CEO shift that it expects to exceed its earnings and revenue guidance for the fourth quarter when it reports earnings on Jan. 21.

  • The release also said the company "has made strong progress" on its next generation 7-nanometer manufacturing technology and will give a further update when it reports earnings.

Background: Gelsinger worked at Intel for three decades starting at age 18, rising to the upper executive ranks before leaving.

What they're saying: "My experience at Intel has shaped my entire career, and I am forever grateful to this company," Gelsinger said in a memo to Intel workers.

  • "To come back “home” to Intel in the role of CEO during what is such a critical time for innovation, as we see the digitization of everything accelerating, will be the greatest honor of my career."

Meanwhile: VMware said CFO Zane Rowe will serve as interim CEO while the company searches for Gelsinger's replacement. Gelsigner will remain on VMware's board of directors.

Transcripts show George Floyd told police "I can't breathe" over 20 times

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Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.

  • The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.

What the transcripts say:

  • Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
  • The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
  • Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."

Read the transcripts via DocumentCloud.