Intel said it will bring on current VMware leader Pat Gelsinger as its new chief executive officer, effective Feb. 15, 2021.\u00a0 The 40-year technology industry vet replaces Intel\u2019s Bob Swan, who will remain CEO until that date.\nFor VMware, the company said it was initiating a global executive search process to name a permanent chief and that Zane Rowe, current VMware CFO will become interim CEO.\n\n\u201cPat led the company in expanding our core virtualization footprint and broadening our capabilities to cloud, networking, 5G\/edge and security, while almost tripling revenue to nearly $12 billion,\u201d Rowe said in a statement. \u201cVMware remains focused on helping customers optimize their digital infrastructure\u2014from app modernization and multi-cloud to networking, security and digital workspaces. We look forward to continued growth and innovation across our technology offerings.\u201d\nGelsinger, who spent some 30 years at Intel and was its CTO, was by most accounts being set up to be Intel\u2019s CEO before leaving for EMC in 2009 and then taking the reins at VMware in 2012.\nWhile at Intel, he helped create key technologies, including USB and Wi-Fi, led Intel to be the dominant supplier of the microprocessor\u2014while in the significant role as the architect of the original 80486 processor, according to his VMware bio.\nAt VMware he led a variety of company transformations, the latest being its push to support all things Kubernetes with its Tanzu effort.\n\u201cHaving begun my career at Intel and learned at the feet of [semiconductor pioneers Andrew] Grove, [Robert] Noyce and [Gordon] Moore, it\u2019s my privilege and honor to return in this leadership capacity,\u201d Gelsinger said in a statement from Intel. \u00a0\u201cI have tremendous regard for the company\u2019s rich history and powerful technologies that have created the world\u2019s digital infrastructure. I believe Intel has significant potential to continue to reshape the future of technology and look forward to working with the incredibly talented global Intel team to accelerate innovation and create value for our customers and shareholders.\u201d\nGelsinger by most accounts, will be taking on a significant challenge in recharging Intel.\u00a0 For example, CNN Business reported that under Swan, Intel has struggled. \u201cIt lost market share to rival AMD, and its stock hasn\u2019t grown as fast as its competitors. Intel was also dealt a blow when Apple announced it will use its own processors, rather than Intel\u2019s, in its new series of Macs,\u201d CNN stated.\nThe Wall Street Journal wrote that in December, Daniel Loeb, the CEO of activist hedge fund Third Point LLC\u2019s, wrote a letter to Intel Chairman Omar Ishrak saying, \u201cthe company\u2019s woes could threaten the U.S. tech industry.\u201d He urged the chip maker to consider alternatives, including selling some of its acquisitions and splitting its design and manufacturing operations\u2014a move that would end Intel\u2019s long-held status as America\u2019s leading integrated semiconductor maker.