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Craig Barrett to step down as Intel chairman

Independent director Jane Shaw will become nonexecutive chairman in May 2009

Signaling the end of a landmark era, 69 year old Craig Barrett has decided to step down as Intel chairman and member of the board of directors in May 2009 at the company's annual stockholders' meeting.

Since joining the company in 1974, Barrett has taken on different roles including the coveted CEO position from 1998 through till 2005. Of late he has been active in Intel’s World Ahead Program designed to bring the power of information technology to emerging economies.

Just last year Barrett visited Saudi Arabia, Kuwait, Egypt and the UAE to announce a series of Intel programs specifically for the Gulf region.

"Intel became the world's largest and most successful semiconductor company in 1992 and has maintained that position ever since," said Barrett.

"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,” he added.

Paul Otellini, Intel president and CEO commented that Barrett’s “legacy spans the creation of the best semiconductor manufacturing machine in the world…”

Independent director Jane Shaw, who joined the Intel board in 1993, has been elected by the board of directors to replace Barrett as non-executive chairman in May. Shaw, also 69, retired as chairman and CEO of speciality pharmaceutical company Aerogen in 2005, after serving the company for seven years.