REUTERS: Chipmaker Intel Corp said on Wednesday it would replace Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger next month.
Intel said its announcement is unrelated to its financial performance in 2020.
The company's shares were up nearly 10per cent in early trading.
Swan, a former chief financial officer from eBay, had served as Intel's finance chief and was named its interim CEO when Brian Krzanich resigned in June 2018.
Swan was made permanent chief in early 2019 after an extensive search failed to yield an external candidate.
(Reporting by Reporting by Svea Herbst-Bayliss in Boston, Stephen Nellis in San Francisco, and Munsif Vengattil in Bengaluru; Editing by Maju Samuel)