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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Intel board chairman retiring in May AFP - Saturday, January 24 SAN FRANCISCO (AFP) - - Intel Corp. said Friday that board chairman Craig Barrett will retire from the world's largest computer chip company in May. Barrett's departure comes as Intel closes plants and lays off workers to deal with dismal economic conditions worldwide. Jane Shaw, who joined the Intel board in 1993, has been chosen to replace Barrett. "Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since," said Barrett. "I have every confidence that Intel will continue this leadership under the direction of (chief executive) Paul Otellini and his management team." Barrett joined Intel in 1974 and served as chief executive from 1998 through 2005. Barrett's work at Intel has included programs promoting information technology in emerging economies as well as in education, health care and US competitiveness. "I want to thank Craig for his 35 years of tireless efforts on behalf of Intel," said Otellini. "His legacy spans the creation of the best semiconductor manufacturing machine in the world, leading Intel for seven years as we emerged into a global powerhouse... He has been my colleague, supervisor, mentor and friend." Word of Barrett's retirement comes just days after Intel announced it will close facilities in Malaysia, the Philippines and the United States. The Santa Clara, California-based company said the moves are expected to affect between 5,000 and 6,000 employees worldwide. Intel reported last week that the economic slowdown and slumping demand for personal computers sent net profit sharply lower in the fourth quarter of the year. It said net profit in the last three months of the year plunged to 234 million dollars, down 90 percent from a year ago. Intel has also warned that it expects even worse results this quarter than the previous three months, with expected revenue of seven billion dollars. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Technology Recession hits Silicon Valley as layoffs pile upReuters - 1 hour 44 minutes ago Senator asks Microsoft about job cuts, visasReuters - 2 hours 22 minutes ago Google loses best workplace crown to NetAppAFP - 2 hours 35 minutes ago Intel board chairman retiring in MayAFP - Saturday, January 24 'Obameter' keeps track of Obama campaign promisesAFP - Saturday, January 24 Enlarge Photo Intel Corp. said Friday that board chairman Craig Barrett, seen here in August 2008, will retire from the world's largest computer chip company in May. Most Popular – Technology Viewed World crisis deepens as downturn bites in Asia Obama retakes oath of office 'Dogs don't wear condoms,' says Baywatch star Anderson Obama steps up anti-recession offensive US unemployment spikes, housing crisis deepens View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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