Citi analyst Christopher Danely says Intel (NASDAQ:INTC) might name a permanent CEO in the next few months. Speaking following discussions with Intel officials at the Consumer Electronics Show, Danely pointed out that the semiconductor behemoth is driven by operational enhancements and stability of leadership meant to reclaim market share in the CPU industry by 2025.
Since former CEO Pat Gelsinger abruptly retired last month, the corporation has had temporary leadership. Co-CEOs David Zinsner and Michelle Johnston Holthaus of Intel presently supervise company operations. Although Gelsinger mentioned personal reasons for resigning, rumors abound that internal or outside demands drove his leaving.
Maintaining a Neutral rating on Intel, Danish said of the company’s initiatives to simplify processes, “the right thing to do.” The clearance in Intel’s leadership is likely to be welcomed by investors as it keeps implementing its turnaround plan in a very competitive semiconductor market. Intel’s Thursday trading share dropped 0.65%.
This article first appeared on GuruFocus.
