Intel hires Robert Swan from General Atlantic as CFO

September 19, 2016 4:15 PM EDT

Intel processors are displayed at a store in Seoul June 21, 2012. REUTERS/Choi Dae-woong


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(Reuters) - Intel Corp named Robert Swan chief financial officer, replacing company veteran Stacy Smith who is moving to a new role leading sales, manufacturing and operations.

The world's largest chipmaker said earlier this year that Smith, who has been Intel's chief financial officer for nearly a decade, would shift to a new role.

Swan, 56, joins from private equity firm General Atlantic and will oversee global finance and IT organizations, as well as corporate strategy office, Intel said on Monday.

He will take up his new role, effective Oct. 10.

Swan, who also served as eBay Inc's chief financial officer, left after the company spun off PayPal Holdings Inc last year.

Intel raised its quarterly revenue forecast for the first time in more than two years on Friday as suppliers of parts used in personal computers replenish their inventory amid improving PC demand.

The company's shares were unchanged in after market trading on Monday. They closed down 1.3 percent at $37.16.

(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)



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