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Gelsinger. Photo: Intel

Intel said Wednesday that VMware CEO Pat Gelsinger will return to the chipmaker as CEO, with current chief Bob Swan stepping down as of Feb. 15.

Why it matters: Intel faces a host of challenges from manufacturing issues to competition from rival AMD to Apple's move to use homegrown chips in the Mac.

Between the lines: Intel's woes have spurred calls for a leadership shake-up including from activist investor Third Point.

The other side: The company said in its press release announcing the CEO shift that it expects to exceed its earnings and revenue guidance for the fourth quarter when it reports earnings on Jan. 21.

  • The release also said the company "has made strong progress" on its next generation 7-nanometer manufacturing technology and will give a further update when it reports earnings.

Background: Gelsinger worked at Intel for three decades starting at age 18, rising to the upper executive ranks before leaving.

What they're saying: "My experience at Intel has shaped my entire career, and I am forever grateful to this company," Gelsinger said in a memo to Intel workers.

  • "To come back “home” to Intel in the role of CEO during what is such a critical time for innovation, as we see the digitization of everything accelerating, will be the greatest honor of my career."

Meanwhile: VMware said CFO Zane Rowe will serve as interim CEO while the company searches for Gelsinger's replacement. Gelsigner will remain on VMware's board of directors.

Go deeper

Updated Jan 27, 2021 - Axios Events

Watch: Global data-driven change

On Thursday, January 27, Axios' Ina Fried hosted a conversation on the social impact of Big Data, featuring Rep. Yvette Clarke (D-N.Y.) and former U.S. chief technology officer and founder and CEO of shift7, Megan Smith.

Megan Smith. unpacked how data can help solve some of the biggest equity issues across our economy and society today, and the importance of having everyone at the table.

  • On solving social issues that are exacerbated by new technologies: "It's just not for the tech community to decide [how to fix this] on behalf of all of us, especially because they face extraordinary bias in their hiring practices and their teams' dismissiveness of people who are not of a certain group."
  • On how the government should approach solving problems that cross technological and policy divides: "The key there is less about what and more about who. Who is in the government teams, who is actually in the tech teams? Are they more balanced? How do we get more of society at the table together so that we're more fluent as we work on this?"

Rep. Yvette Clarke highlighted the risks and rewards of using Big Data, as well as the shared responsibility of the public and private sectors to keep the public informed.

  • On how algorithms can amplify existing biases: "[Big Data] can be great in making advances in our civil society. The other side is it can become a mirror of some of the inequities that exist in the real world...and that reflection can be programmed into algorithms."
  • On a balanced approach to technology regulation: "I really want to make sure that the public is educated and informed...[That] we also hold the companies accountable for the ways in which they perpetuate harm in certain respects and reward where they're doing good."

Axios' Chief People Officer Dominique Taylor hosted a View from the Top segment with Intel Executive Vice President and Chief People Officer Sandra Rivera to discuss collaboration and creating change from within the tech industry.

  • "We have convened other industry leaders to really drive meaningful, lasting change forward. This is such a big challenge and opportunity. It doesn't really work that any one company can do [it] alone: We take our role in terms of leading that work by participating, collaborating with other tech giants."

Thank you Intel for sponsoring this event.

CCP releases two jailed Canadians after Huawei CFO deal with DOJ

Photo: Sheldon Cooper/SOPA Images/LightRocket via Getty Images

Two Canadians imprisoned by the Chinese government for over 1,000 days have been released and are expected to arrive in Canada on Saturday, Prime Minister Justin Trudeau said Friday.

Why it matters: Their release comes hours after Huawei Technologies CFO Meng Wanzhou reached a deal with the U.S. Department of Justice that resolves the criminal charges against her and could pave the way for her to return to China.

Updated 6 hours ago - Politics & Policy

Arizona GOP's private recount of 2020 election confirms Biden's win

Contractors working on behalf of the GOP examine and recount 2020 ballots at Arizona Veterans Memorial Coliseum in Phoenix in May. Photo: Courtney Pedroza/Getty Images

In an odd coda to the 2020 election, private contractors conducting a GOP-commissioned recount in Arizona confirmed President Biden’s win in Maricopa County.

Why it matters: The unofficial, party-driven recount has been heavily covered on cable news as part of former President Trump's continued effort to sow doubt about the election result.

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