Craig barret stepping down

After the turn of Yahoo , now its turn of intel to get its new Chairman. Intel Corporation chairman and former chief executive Craig Barrett will retire in May this year, ending a 35-year career with the world's largest semiconductor company. Barrett joined Intel in 1974 and has served in many capacities including CEO from 1998 through 2005.
Intel also announced that independent director Jane Shaw, who joined the Intel board in 1993, has been chosen by the board of directors to replace Barrett as non-executive chairman beginning in May.
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Barrett's departure comes just days after Intel announced it will close facilities in Malaysia, the Philippines and the United States to deal with dismal economic conditions worldwide. The actions will result in a reduction of 5,000 to 6,000 jobs, Intel said.

In recent years, Barrett has been active in Intel's World Ahead Program bringing information technology to emerging economies and has been active in issues as far ranging as education, health care and U.S. competitiveness. Barrett is the current chair of the U.N. Global Alliance for Information and Communications Technology and Development.

Commenting on his 35-year career at Intel, Barrett noted that he was fortunate to have been able to work side by side with industry legends Bob Noyce, Gordon Moore and Andy Grove.

"Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since," said Barrett. "I am extremely proud to have helped achieve that accomplishment and to have the honour of working with tens of thousands of Intel employees who every day put their talents to use to make Intel one of the premier technology companies in the world. I have every confidence that Intel will continue this leadership under the direction of Paul Otellini and his management team."!