Intel hires rival Qualcomm’s CFO
Intel has named former Qualcomm finance lead George Davis as executive vice president and CFO. He now takes over Intel’s global financial operations, including its IR department, and heads up the company’s technology department.
Davis left his executive vice president and CFO post after six years at Qualcomm, where he also had IR responsibilities and was a member of the executive committee at the global chipmaker. As part of the transition plan for a new CFO, Qualcomm says its board of directors has unanimously approved the appointment of David Wise, senior vice presidentand treasurer, as interim CFO during the search for a permanent replacement.
At Intel, Davis reports to CEO Bob Swan. The company has been without a permanent CFO since January, when Swan, who was serving as interim CEO for seven months and as CFO since 2016, was promoted.
‘I know George is a world-class CFO, leader and team-builder,’ says Swan. ‘He is a great addition to our leadership team and will help us execute our growth strategy in pursuit of the biggest data-driven market opportunity Intel has ever had. Our owners can expect a continued disciplined approach to capital allocation and a relentless focus on creating stockholder value.’
Economics and political science graduate Davis, who also has an MBA from the University of California, says he is thrilled to be joining the Intel team. Prior to joining Qualcomm in 2013, he was CFO at semiconductor equipment firm Applied Materials, with responsibility for finance, IT, strategy & corporate development and government relations.
According to Davis the ‘demand for the analysis, transmission and storage of data is growing faster than ever, and no company in the world is better positioned to capitalize on that opportunity than Intel. It’s an exciting time for Intel, and I’m looking forward to playing a role in the company’s transformation. I’m thrilled to be joining the Intel team.’