By Colin Kellaher
VMware Inc. on Wednesday said its board launched a search for a new chief executive after Pat Gelsinger resigned to take the helm at chip giant Intel Corp.
The Palo Alto, Calif., enterprise software company said Zane Rowe, its chief financial officer, will step in as interim CEO when Mr. Gelsinger leaves on Feb. 12.
Mr. Gelsinger, who has been CEO of VMware since September 2012, will replace Bob Swan as Intel CEO on Feb. 15, returning to the company where he began his career. Mr. Gelsinger spent 30 years at Intel and served as the chip maker's first chief technology officer.
Intel on Wednesday announced the ouster of Mr. Swan in a surprise move after activist hedge fund Third Point LLC urged sweeping changes at the company.
VMware said Mr. Gelsinger will remain on its board.
Shares of VMware were down 5.4% to $135.18 in early trading Wednesday.
Write to Colin Kellaher at firstname.lastname@example.org
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