Intel Grabs New CFO From Qualcomm -- Update
03 April 2019 - 2:08PM
Dow Jones News
By Stephen Nakrosis and Maria Armental
Intel Corp. on Tuesday said George S. Davis will join the
company as its new chief financial officer, stepping into the role
vacated by now Chief Executive Bob Swan.
Mr. Davis, 61 years old, for the past six years worked as CFO at
Qualcomm Inc. A member of The Wall Street Journal CFO Network, he
will oversee Intel's global finance organization, the company said,
adding he will also oversee its information technology
organization. He will take the role effective April 3.
In January, Intel promoted Mr. Swan to CEO, capping a roughly
seven-month search after Brian Krzanich resigned for violating
company policy by having a relationship with a co-worker.
Last month, Intel's board cleared the way for Andy Bryant to
stand for re-election to serve another year as chairman.
"Mr. Bryant's extensive expertise and experience provide
important leadership continuity, particularly to help support
Intel's new CEO, Robert H. Swan, during a time of substantial
business transformation," the company said in a securities
filing.
The Silicon Valley chip giant has been trying to grow beyond a
"PC-centric company with a server business," pushing deeper into
"data-centric businesses," including data centers and the so-called
Internet of Things.
Still, the client computing group--which includes PC
chips--remains the company's largest unit, bringing in more than
half of its operating profit and revenue in the most recent
year.
On Tuesday, Qualcomm said David Wise, senior vice president and
treasurer, would take the CFO role on a temporary basis while the
company searches for a permanent replacement.
Mr. Wise joined Qualcomm in 1997 and has held a variety of roles
in finance, and corporate development and strategy, the company
said. He has been part of Qualcomm's senior finance leadership team
for more than 12 years.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
April 02, 2019 22:53 ET (02:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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