Shakeup at Intel as president, other leaders depart

Dive Brief:

Intel president Renée James has announced she is stepping down. No successor has yet been named.
James will remain at Intel through the end of this year to help ease the transition to another executive leader.
Leaders in Intel’s mobile and wearable units also announced they will leave the chip maker.

Dive Insight:

Slowing PC sales have challenged growth at Intel over the last several years. As a result, the company is setting its sights on other markets such as the Internet of Things. Last month, Intel agreed to buy reprogrammable-chip maker Altera for about $16.7 billion in an effort to expand its server and IoT capabilities.

The company’s mobile business has also been struggling. Executives Hermann Eul (mobile) and Mike Bell (new devices) announced they will also leave the company after a transition period, Intel said. The Intel announcement came just prior to an announcement from AMD July 6 announcing it is cutting its revenue estimates, also due to weak PC sales.