Paul Otellini

Intel Corp.'s (INTC) new chief executive vowed Thursday to rapidly grow the company's presence in the tablet and smartphone markets at a shareholder meeting that formalized a major management shift for the Silicon Valley chip giant.Brian Krzanich, who was recently named chief executive, said although Intel has been slow to respond to the rapid rise of tablets and smartphones, the company is well-positioned to participate going forward."What we have will allow us to grow in this area much faster in the future," he said.Intel's annual meeting provided the first opportunity for Mr. Krzanich, whose appointment to CEO became effective Thursday, to address shareholders.He was named to the post May 2, following a selection process set off in November by the surprise decision of Paul Otellini to step down as CEO, three years before Intel's mandatory retirement age. Intel, in a break from tradition, evaluated external candidates as well as internal ones before settling on Mr. Krzanich, a 52-yea...

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