Craig Barrett of Intel has announced his intention to retire from active management.
The 35 year veteran will also resign his role as chairman and member of the board of directors. Barrett is slated to be replaced by independent director Jane Shaw in May.
"Craig decided that it was time for him to begin the next phase of his career," Tom Beermann, an Intel spokesperson, told IT Examiner. "He maintains an active interest in a variety of subjects, including education, technology and health care, all of which demanded quite a bit of his time."
Barrett joined Intel in 1974 and served in many capacities, including CEO from 1998 through 2005. The former CEO remains active in Intel's World Ahead programme and is the current chair of the UN Global Alliance for Information.
Barrett, who reminisced about his career at Intel, noted that he was grateful for the opportunity to work with industry heavyweights such as Bob Noyce, Gordon Moore and Andy Grove. In addition, he expressed confidence in current CEO Paul Otellini.
"Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since," said Barrett. "I'm extremely proud to have helped achieve that accomplishment and to have the honor of working with tens of thousands of Intel employees who every day put their talents to use to make Intel one of the premier technology companies in the world. I have every confidence that Intel will continue this leadership under the direction of Paul Otellini and his management team." X