Chief Financial Officer AndyBryant , who's been at Intel since 1981, says he doesn't expect layoffs from the current cost cuts, but that the company won't likely be conducting any hiring binges.
"Paul Otellini has been a very strong leader, only the fifth CEO in the company's great 45-year history, and one who has managed the company through challenging times and market transitions, " said AndyBryant, chairman of the board.
"After a thorough and deliberate selection process, the board of directors is delighted that Krzanich will lead Intel as we define and invent the next generation of technology that will shape the future of computing, " said AndyBryant, chairman of Intel.