Home > Industry > Finance > Intel Recovers After CEO Firing

Intel Recovers After CEO Firing

Intel’s stock price dropped about two percent yesterday on news of CEO Brian Krzanich’s resignation. But Wall Street decided not to punish the stock too much as investors turned to Intel’s announcement that it expects to raise its second-quarter revenue and profit forecast to levels above expectations.

Intel said that it now expects second-quarter sales of about US$16.9 billion, up from its previous estimate of $16.3 billion. The company forecast earnings per share of about 99 cents, up from an earlier target of 85 cents.

Front runners to replace Krzanich are tipped to come from internal ranks within the management team, include Robert Swan as front runner.

Others with a shot at the title include Murthy Renduchintala, group president of technology; Navin Shenoy, executive VP and GM of Intel’s datacentre group; Leslie Culberton, executive VP and GM of product assurance; and Steven Rodgers, executive veep and general counsel.

You may also like
Intel Invests In Chinese Chips
Under Pressure From AMD, Intel Reveals 10th Gen Intel Core vPro For Business
Qualcomm Tips 30% Phone Demand Drop, 5G Stable
Will Oz Consumer Confidence Continue To Recover? Up 1% Last Week
woman-holding-card-while-operating-silver-laptop-919436
Banks Prepare For Consumers To Skip Out On Credit Card Payments