Wednesday, September 19 16:43:17
Intel said Sean Maloney, the head of its Chinese operations and a one-time contender for the CEO position, will retire in January and it will not replace him.
Fifty-six year old Maloney was once seen as a likely eventual successor to Chief Executive Paul Otellini, but he was forced to take a leave of absence after suffering a stroke in 2010. After recovering and regaining his speech, he returned in May 2011 to head up the chipmaker's operations in China.
Intel said in a statement on Wednesday it would not replace Maloney, who began at Intel in 1982 and whose most recent title was executive vice president and chairman of Intel China.
Instead, the chipmaker has established a group of executives to oversee Intel's strategy in China, where it has 8,000 employees. China, including Hong Kong, contributed $8.1 billion of Intel's revenues last year.