Intel announced Friday that Chairman and former CEO Craig Barrett will retire from the board in May at the chip giant's annual shareholders meeting.
Barrett, 69, is retiring to spend more time working on his interests in health care and education, said an Intel spokesman. He has been active in the company's World Ahead Program to bring technology to emerging countries, and he has served as the chairman of the U.N. Global Alliance for Information and Communications Technology and Development.
Barrett joined Intel 35 years ago and rose up the ranks to eventually become its chief executive in 1998 for a seven-year run. He will retire after having served three years as the company's chairman.
Intel announced that Jane Shaw, who joined Intel's board in 1993, will assume the non-executive chairman's post in May.
Barrett, in a statement, said:
Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since.
I'm extremely proud to have helped achieve that accomplishment and to have the honor 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.
Barrett, who served as the company's fourth CEO, worked with such chip pioneers as Intel co-founders Andy Grove, Gordon Moore, and Bob Noyce.
While at Intel, Barrett played a key role in helping to perfect the chip giant's manufacturing and pushed it into new markets, such as semiconductors for home devices and wireless technologies.