On May 20, Craig Barrett will succeed Andy Grove as the president and chief operating officer of Intel Corporation, the company that supplies microprocessors to the vast majority of computers on the planet. Grove, who will continue as chairman, will direct Intel's strategic planning for the future while Barrett oversees the day-to-day operations.

"Craig has been the architect of Intel's operations throughout the last decade," Grove said. "Craig is the guy who keeps the Intel machine running."

Barrett said that he would continue Intel's strategy to target a vast array of computing devices, including everything from the smallest handheld up to multi-processing super-servers. At the low-end, Intel will develop its products around the StrongARM architecture it licensed recently from Advanced RISC Machines (ARM). He added that Intel's long-term plan includes a slew of devices that aren't necessarily microprocessors.

"There's a lot of stuff in the hardware other than the processor," Barrett said.

Andy Grove was one of the original founders of Intel in 1968, while Barrett joined the company in 1974