Intel senior executive Dadi "David" Perlmutter, who oversaw processor design at the chip giant, will leave the company after 34 years, the company announced Wednesday.
Permutter, who was passed over as Intel's new chief executive earlier this year, will leave the company on February 20 -- the 34th anniversary of his start at the company -- to "pursue other opportunities," Intel revealed in a regulatory filing with the US Securities and Exchange Commission.
Perlmutter has been closely involved with some of Intel's biggest advances and is credited for the company's success with its Centrino line of notebook processors. As general manager of the Intel Architecture Group and chief product officer of Intel, Perlmutter supervised chip design for all computing segments, including data centers, desktops, laptops, handhelds, embedded devices, and consumer electronics.
He was among a handful of candidates suggested to replace Paul Otellini, who announced last year he would retire in May. However, while Perlmutter had the technical experience and expertise to lead a semiconductor company, his lack of experience with sales or marketing was seen as a stumbling block.
The board instead chose Brian Krzanich, the company's chief operating officer, as its next CEO. Krzanich, who was widely seen as the frontrunner for the position, initiated a reorganization in late May that transferred management of the Architecture group from Perlmutter to Krzanich, according to a leaked memo detailed by Reuters.
The full text of Intel's announcement:
On October 18, 2013, David Perlmutter, Executive Vice President and General Manager, Intel Architecture Group, notified Intel Corporation ("Intel") of his intention to leave Intel effective February 20, 2014, the 34th anniversary of his start of employment at Intel, to pursue other opportunities in his life and professional career. Throughout his career at Intel, Mr. Perlmutter led many of the product, technology, and business transformations at Intel.
Until his departure in February 2014, Mr. Perlmutter will provide transition assistance to Intel's Platform Engineering Group and on other matters as requested by management and will continue to participate in all applicable Intel compensation and benefit plans and arrangements. Mr. Perlmutter will receive postemployment benefits as described in the "Executive Compensation" section of Intel's proxy statement filed with the Securities and Exchange Commission on April 3, 2013, including acceleration of the vesting of certain equity awards pursuant to company policy for employees age 60 or over and relocation assistance under the terms of Mr. Perlmutter's relocation agreement.