Microprocessor giant Intel announced today that 30-year Intel veteran Paul Otellini will succeed Craig R. Barrett as CEO in May 2005, when Barrett steps down. Otellini has held Intel's president and chief operating officer (COO) positions since 2002. In addition, Barrett will succeed former Intel CEO Andrew S. Grove as chairman of the board. Grove will assume a senior advisor role for the company.
  
"Having worked closely with \[Barrett\] and \[Otellini\] for over 30 years, I know that \[Otellini's\] vitality and deep knowledge of Intel's products, customers, and global markets, together with \[Barrett's\] stature as an industry leader and preeminent technologist, make them outstanding choices to lead Intel and the board as the company drives its core silicon expertise further in computing and communications," Grove said.
  
Otellini first joined Intel in 1974 and served the company in several positions before becoming Grove's assistant in 1989. He took charge of Intel's microprocessor business in 1990 and led the team that introduced the first Pentium processor in 1993. Through 1998, Otellini was Intel's executive vice president of sales and marketing. And from 1998 to 2002, he served as executive vice president and general manager of the Intel Architecture Group.