San Francisco, Jan 15 (TIWN) In a big development, Intel CEO Bob Swan is stepping down from February 15 and Pat Gelsinger, CEO of enterprise virtualisation leader VMWare, will take over his position, CNBC reported on Wednesday.

Swan was named CEO in January 2019 after serving as interim CEO for seven months.  Gelsinger has served as CEO of VMware since September 2012.  Prior to becoming CEO of VMware he was President and Chief Operating Officer, EMC Information Infrastructure Products at EMC.  Before joining EMC, he was the first CTO of Intel Corporation and Senior Vice-president and General Manager of the Digital Enterprise Group at Intel.  For both Swan and Gelsinger, India has always been a strategic and growth-oriented market.  Intel's stock was up about 13 per cent while VMWare's stock went down nearly 5 per cent after the news broke.