Intel Corp will promote 20-year company veteran and manufacturing expert Brian Krzanich to the post of chief operating officer, making him a frontrunner to one day replace Paul Otellini as chief executive. The promotion, effective within the next 30 days, is part of a broader management reshuffle that comes a day after the company reported fourth-quarter results that beat Wall Street's modest expectations.
On Thursday, Intel also said it would increase capital spending by about 17 percent to $12.5 billion in 2012, quickening efforts to catch up in the tablet and smartphone markets. Krzanich, 51, will continue to oversee world-wide manufacturing for the world's top chipmaker, while handling internal operations as well.
Otellini, who must retire in four years when he reaches 65, according to a company rule, was the last Intel executive to officially hold the COO position. Vice Chairman Andy Bryant, who Intel previously announced would become full-time chairman, had been handling many of the responsibilities of a COO. "It could be bit premature to call Brian the next CEO, but all signs point toward that now," said Evercore Partners analyst Patrick Wang.
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