Intel's CEO Paul Otellini to retire in May

Intel's CEO Paul Otellini is said to be retiring as CEO and director of the company as of next May. This would mark the end of Otellini's leadership of Intel since he took steweardship of one of the most important technology companies eight years ago. 

"I’ve been privileged to lead one of the world’s greatest companies," Otellini said. "After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership."

Otellini took over as Intel CEO at the end of 2005 and helped grow Intel's annual revenue from $38.8 billion to $54 billion, and generated cash from operations in excess of $100 billion. He also helped Steve Jobs transition Apple from PowerPC architecture to Intel an important move that helped ensure Apple's successful future.