Intel finds safety in consolidation

Chip maker Intel is to combine two of its biggest business divisions as it struggles to tighten its financial belt.

By Suzanna Kerridge, 16 March 2001 12:02

NEWS The firm will join the networking and processor business with the communication product business to create a networking and communications group. Intel said the move was designed to streamline the two units which often pursued the same customers. The move includes a reshuffle of top executives. Sean Maloney, executive vice president of Intel, will head up the new division and taking over from him as head of sales will be Mike Splinter - previously the general manager of Intel's technology and manufacturing group. Following the shake up, two of the company's top executives have decided to retire - Gerry Parker, vice president of Intel's new-business group, and Stephen Nachtsheim, vice president of Intel capital. The announcement follows Intel earlier decision to slow down investment in a planned manufacturing plant in Ireland.

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