Intel Corp said on Thursday that its board had elected its Chief Operating Officer Brian Krzanich as the chipmaker's next chief executive.

Krzanich, who has worked at Intel since 1982, will take on the top job at the company's annual shareholder meeting on May 16. Krzanich, 52, has been COO since January 2012. The board also elected Ren��e James, 48, to be president of Intel and is expected to expand to 10 members to add Krzanich.

(Reporting By Sinead Carew)