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Intel shares fall after business name interim chief Bob Swan the new CEO



After more than half a year searching for a new chief executive, Intel Corp.

INTC, -1.76%

with the name Robert Swan to the top position. Swan has served as interim chief executive for the past seven months and since 2016 he is chief financial officer of the company. Intel shares fall Thursday by 2.3% on the Thursday market. Some had expected the company to choose an external candidate for the top position, especially given the long search process. Chairman Andy Bryant said that the "extraordinary results of the company in 2018", also during Swan's term of office, helped the board of Intel to take up a job. Todd Underwood, Intel's vice-president for finance, takes over the CFO position on an interim basis, while the company seeks formally. Intel's shares have risen by 1.4% in the past three months, such as the Dow Jones Industrial Average

DJIA, -0.20%

0.4%.

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