Intel Hires New Chief Sales Officer

<p><strong>SANTA CLARA – <&sol;strong>Intel Corporation has announced the appointment of Dean Jarnac as executive vice president and chief sales officer&period; Jarnac &lbrack;pictured&rsqb; will lead Intel&&num;8217&semi;s global sales organization— strengthening Intel&&num;8217&semi;s customer relationships and go-to-market execution across its product portfolio&comma; including client&comma; data center&comma; AI&comma; networking&comma; and ASICs&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Customer focus and execution are central to Intel&&num;8217&semi;s strategy and future success&comma;” said Lip-Bu Tan&comma; Intel CEO&period; &OpenCurlyDoubleQuote;Dean is a proven leader with deep industry relationships and a strong track record of building high-performance sales organizations&period; His customer-first mindset&comma; operational discipline&comma; and extensive semiconductor experience will help us deepen customer partnerships and accelerate growth across our business&period;”<&sol;p>&NewLine;<p><span class&equals;"TextRun SCXW127443072 BCX8" lang&equals;"EN-US" ><span class&equals;"NormalTextRun SCXW127443072 BCX8">Jarnac joins In<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">tel from Marvell&comma; where he served as chief sales officer and <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">was responsible for<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8"> the company&&num;8217&semi;s worldwide sales<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">&comma; <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">field application engineering<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">&comma; and sales operations <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">organizations&period;<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8"> <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">Prior to Marvell&comma; Jarnac held senior sales leadership positions <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">at <&sol;span><&sol;span><span class&equals;"TextRun Highlight SCXW127443072 BCX8" lang&equals;"EN-US" ><span class&equals;"NormalTextRun SCXW127443072 BCX8">Broadcom<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8"> <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">and <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">AMD<&sol;span><&sol;span><span class&equals;"TextRun SCXW127443072 BCX8" lang&equals;"EN-US" ><span class&equals;"NormalTextRun SCXW127443072 BCX8">&comma; <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">bringing <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">more than <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">30<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8"> years of <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">experience driving<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8"> deep customer partnership and<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8"> growth in the <&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">sem<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">icondu<&sol;span><span class&equals;"NormalTextRun SCXW127443072 BCX8">ctor industry&period;<&sol;span><&sol;span><&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Intel&&num;8217&semi;s technology&comma; talent&comma; and customer relationships position the company for an exciting future&comma;” said Jarnac&period; &OpenCurlyDoubleQuote;I&&num;8217&semi;m honored to join Lip-Bu and the Intel team as we help customers unlock new opportunities with Intel&&num;8217&semi;s innovation&comma; while accelerating the company&&num;8217&semi;s growth and transformation&period;”<&sol;p>&NewLine;<p>Jarnac will report directly to CEO Lip-Bu Tan and will join Intel in September&period;<&sol;p>&NewLine;<p>As part of this transition&comma; Greg Ernst will be leaving Intel after 27 years with the company&period; Intel thanks Greg for his many contributions over nearly three decades of service&period;<&sol;p>&NewLine;<p>Also this month&comma; Intel sold 210&comma;526&comma;315 shares of common stock at a public offering price of &dollar;95 per share&period; The offering was upsized to &dollar;20 billion from the previously announced offering size of &dollar;15 billion&period;<&sol;p>&NewLine;<p>The net proceeds from the offering will be approximately &dollar;19&period;7 billion &lpar;assuming the underwriters do not exercise their option to purchase additional shares&rpar;&comma; after deducting underwriting discounts and commissions and estimated offering expenses payable by Intel&period; The company intends to use the net proceeds from the offering for general corporate purposes&comma; which may include&comma; but are not limited to&comma; capital expenditures and working capital&period;<&sol;p>&NewLine;