Posted on Wednesday, August 23 2017 @ 11:03 CEST by Thomas De Maesschalck
Intel sends out word that Stacy Smith (54), Group President of Manufacturing, Operations and Sales, will retire from the company at the end of January 2018. Smith joined the chip giant in 1988 and served the company in various roles. Oddly enough, while Intel describes the departure as a retirement, Smith says he's ready for the next chapter in his professional journey.
In an email today, Intel CEO Brian Krzanich announced that Stacy Smith, Group President of Manufacturing, Operations and Sales at Intel, has decided to retire from the company at the end of January 2018. Krzanich said:"With warm wishes, I'm writing to let you know that after thirty years at Intel, Stacy Smith has decided to retire from Intel at the end of January, 2018.
"I want to thank Stacy for his leadership and his many outstanding contributions to Intel's success. Stacy is a key pillar of our MCM team and a mentor and friend to so many at the company. His career at Intel has spanned every geography and many organizations -- from head of EMEA sales and marketing, chief information officer, nine years as chief financial officer and, most recently, President of Manufacturing, Operations and Sales. Stacy helped guide Intel through the great recession as CFO and has been instrumental in helping to transform Intel from PC to data-centric. For me personally, Stacy has been an incredibly valued colleague, and I will miss him."
Business media like
Bloomberg point out Intel executives who fail to become CEO typically take up senior positions elsewhere in the chip industry. When Paul Otellini retired from the CEO position in 2012, Smith competed for the job but he failed to beat current CEO Brian Krzanich.
