Intel CEO to step down in May


Chipmaker Intel Corp said on Monday that its chief executive Paul Ottelini would retire in May at its annual shareholder meeting.

The 62-year-old Ottelini was the fifth CEO of the company, stepping into the post in the second quarter of 2005.

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Intel's board of directors said it would consider internal and external candidates to be the next CEO. It said in a statement that it expected its "leadership transition" would last six months.

(Reporting By Liana B. Baker; Editing by Gerald E. McCormick)