"Intel Corp, the world's largest computer chipmaker, said Chief Executive Craig Barrett plans to step aside and be replaced by President Paul Otellini, in a long-planned move," reports Reuters.
"In a statement, the company said Barrett will take over as chairman, replacing Andy Grove, the company's previous CEO, all as part of a previously announced succession plan."
Update: Today's Wall Street Journal says that although the switch was widely expected, "the appointment nevertheless marks an inflection point for both Intel and Silicon Valley, as a generation of executives who were steeped in chip-manufacturing expertise yield to younger successors with different skills."
