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Intel CEO plans to retire in May, surprising board as company tries to adapt to mobile market

by: MICHAEL LIEDTKE , Associated Press

Updated: November 19, 2012 - 6:02 PM

SAN FRANCISCO - Intel CEO Paul Otellini dropped a bombshell on the company's board of directors last week, telling them in private that he plans to retire from the world's largest maker of microprocessors in May. Otellini's move comes at a time when Intel faces a shaky economy and a mobile gadget craze that is eating away at demand for its PC chips _and it gives the company just six months to find a new leader.

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