Intel has once again filled a top executive post from outside the company, recruiting a vice president from rival ARM Holdings to handle Intel’s emerging Internet of Things business.
Internet of Things describes a new class of connected technology embedded in everyday objects and appliances. It’s a relatively tiny part of Intel’s business, but the company harbors big hopes for IoT as it shifts from its reliance on the fading PC industry.
The new IoT chief, Tom Lantzsch, had been at ARM for 10 years, most recently as vice president of strategy. ARM’s chip designs have thrived in the mobile computing market, serving as the underpinning for the microprocessors inside Apple’s iPhone and nearly every Android smartphone.
The same low-power, customizable features that gave ARM an edge in mobile devices could also present an opportunity in IoT. In announcing the new hire on Tuesday, Intel president Murthy Renduchintala wrote that Lantzsch will “be an accelerant leader for Intel and our industry – leading with a pure passion for how smart and connected devices will enrich our daily lives.”
Current IoT chief Doug Davis had been set to retire at the end of the year, but the company said Tuesday that he will instead run a new organization within Intel – an Automotive Driving Group.
Intel also is focusing on connected and smart-driving cars, and Renduchintala said the new automotive group has a “not-to-be-missed opportunity.”
Under chief executive Brian Krzanich, Intel has departed from its long-standing practice of promoting from within the company. Instead, it tends to fill its top jobs with outsiders.
Other prominent external hires include:
- Steven Fund, a former Procter & Gamble executive, hired in 2014 as chief marketing officer.
- Renduchintala, hired last November from Qualcomm to be president of the PC and wireless groups.
- Paula Tolliver, chief information officer, hired in August from Dow Chemical.
- Chief Financial Officer Bob Swan, a former eBay executive hired in September.
Hiring externally has been more expensive for Intel. For example, Renduchintala came with bonuses and incentives worth more than $25 million. And Swan’s initial package of salary, bonuses and incentives is worth as much as $23 million.
Intel did not immediately report details of Lantzsch’s compensation.
— Mike Rogoway
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503-294-7699
@rogoway
