Intel President To Step Down To Pursue Other CEO Opportunity

Intel Corp. announced on Thursday that the company's President Renee James will step down at the end of this year after 28 years with the company to pursue an external chief executive role. She will remain in her current role until January to assist in the transition. The company announced a number of other leadership changes as well, including the planned retirement of Intel Capital President Arvind Sodhani in January after 35 years with the company. Wendell Brooks, who heads Intel's mergers and acquisitions division, will take on the additional role as president of Intel Capital. Shares of Intel were inactive in premarket trade. They are down nearly 17% year-to-date, compared with a 1% increase for the broader S&P 500.