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Intel CEO Bob Swan stepping down, VMWare’s Pat Gelsinger will take over

After a two-year tenure, Intel CEO Bob Swan is reportedly stepping down from his role on Feb. 15 and will be replaced by VMWare CEO Pat Gelsinger.

Credit: IntelCredit: Intel

The chipmaker is set to officially make the announcement later on Wednesday, but sources told CNBC of the plan. Intel’s stock was up around 13% on the news, while VMWare’s share price was slightly down.

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