Intel announced last night that it has hired George Davis as its new Chief Financial Officer. David had been Qualcomm’s CFO since 2013.
Davis fills the role that was previously held by Bob Swan, now Intel’s CEO. Both men had previously worked together at Applied Materials.
“I know George is a world-class CFO, leader, and team-builder,” Mr. Swan said in a prepared statement. “He is a great addition to our leadership team and will help us execute our growth strategy in pursuit of the biggest data-driven market opportunity Intel has ever had. Our owners can expect a continued disciplined approach to capital allocation and a relentless focus on creating stockholder value.”
“I’m thrilled to be joining the Intel team,” Mr. Davis added. “With demand for the analysis, transmission, and storage of data growing faster than ever, no company in the world is better positioned to capitalize on that opportunity than Intel. It’s an exciting time for Intel, and I’m looking forward to playing a role in the company’s transformation.”
It sure is an exciting time for Intel, mostly because of heightened competition from Qualcomm, his former employer. Both firms are involved in legal battles as well, mostly involving allegedly appropriated technologies.
Longtime Qualcomm veteran David Wise will replace Davis, the firm said.
“On behalf of the executive team, I want to thank George for his dedicated service over the last six years at Qualcomm,” Qualcomm CEO Steve Mollenkopf said. “We all wish him well in his future endeavors.”