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Intel chief executive Paul Otellini announces retirement

  • Intel on Monday announced that its chief executive Paul Otellini is to retire from the company.

    Otellini has been with the world's biggest maker of microprocessors for nearly four decades and has been chief executive for the past eight years.

    He will step down following the chip company's annual shareholders' meeting in May next year.

    Otellini was the fifth chief executive in Intel's 45-year history.

    The company will now start the process of searching for his successor.