Intel chairman Craig Barrett has announced plans to retire from the company in May. He will hand the top spot to Jane Shaw, who has been a member of the board since 1993.
Barrett has been with Intel since 1974. He spent seven years as chief executive from 1998 until 2005, when he handed the job to current chief executive Paul Otellini.
"I have every confidence that Intel will continue its leadership under the direction of Paul Otellini and his management team," Barrett said.
"I am extremely proud to have helped achieve this accomplishment, and to have had the honour of working with thousands of Intel employees who every day put their talents to use making Intel one of the premier technology companies in the world."
News of Barrett's retirement comes in the midst of a tough time for Intel. The recent fiscal quarter saw the company's first losses in more than two decades, and the resulting cuts are expected to lead to the closure of five manufacturing plants and the loss of some 6,000 jobs.
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