PORTLAND, Ore. (KOIN) — Intel announced Wednesday that its board of directors appointed Pat Gelsinger as its new chief executive officer.
Gelsinger will succeed Bob Swan starting Feb. 15. He has more than four decades of technology and leadership experience, including 30 years with Intel, according to a news release from the company.
Intel is Oregon’s largest private employer, with more than 21,000 people working at its Washington County campuses.
CNN reports Intel shares rose nearly 8% following the news that Gelsinger would take the helm.
Swan had a brief tenure as Intel’s permanent CEO, according to CNN, taking the role in January 2019 following the departure of previous CEO Brian Krzanich, who was forced to resign in 2018 because of a “past consensual relationship with an Intel employee.”