Intel has announced that the company’s Chief Executive Paul Otellini will retire in May. An employee of Intel since 1974, Otellini (who turned 62 in October) has been CEO since 2005—the fifth since Robert Noyce founded the company in 1968.

“Paul Otellini has been a very strong leader,” Andy Bryant, Intel’s chairman of the board, said in a prepared statement, “and one who has managed the company through challenging times and market transitions.”

Those challenging times included the largest layoffs in Intel’s history as well as regulatory challenges. In 2006, Otellini cut the company’s workforce by 10 percent—10,500 employees—of which about one thousand were managers. Intel also faced legal challenges from competitor AMD, including an antitrust action brought by the Federal Trade Commission; Otellini and Intel settled with the FTC in 2010. Meanwhile, Intel has continued to beat AMD in the marketplace.

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via Ars Technica » Technology Lab