--Intel Corp. Chief Executive Bob Swan is stepping down, effective Feb. 15, CNBC reported Wednesday, citing unnamed sources.

--VMware Inc. Chief Executive Pat Gelsinger will succeed Mr. Swan, according to the report.

--The activist hedge fund Third Point LLC in December pushed Intel to explore strategic changes after a year a year in which the U.S. semiconductor giant suffered more product delays and lost its rank as America's highest-valued chip company.

Full story: https://www.cnbc.com/2021/01/13/intel-ceo-bob-swan-to-step-down-in-february.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

(END) Dow Jones Newswires

01-13-21 0944ET