Intel Stock Jumped Because It Named a Micron Exec as Its New CFO

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Chip giant Intel named David Zissner as its new chief financial officer. Zinsner is currently the CFO of Micron Tech, having already named an interim CFO.

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David Paul Morris/Businesshala

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Intel Late Night Nominated with David Zissner as its new Chief Financial Officer. Zinser is the current CFO of Micron Technology.,
The appointment is effective from January 17.

Intel (ticker: INTC) said Zinsner will report to CEO Pat Gelsinger and oversee the company’s global finance organization, which includes finance, accounting and reporting, taxes, Treasury, internal audit and investor relations. Zissner replaced George Davis, who had previously been announced that he would be retiring from Intel in May, and remained with the company in an advisory role until that time.

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Prior to joining Micron (MU), Zissner served as CFO at Analog Devices (ADI) and Intersil.

Micron said It has named Chief Business Officer Sumit Sadana as interim CFO, effective immediately. The memory-chip company said it has begun a search for a permanent replacement. Micron said its financial guidance for the current quarter remained unchanged.

also named intel Michelle Johnson Holthouse To run the company’s Client Computing Group, which makes processors for PCs. A 25-year Intel veteran, he is currently the EVP and general manager of the company’s Sales, Marketing and Communications group. Holthaus replaced Gregory Bryant, who said the company left Intel in late January “for a new opportunity.”

In late trading, Intel stock jumped 4% to $57.43, adding to a 3.3% rally in Monday’s regular session. After hours, Micron stock is down 1.5%, down 0.6% in the regular session.

Eric J. Write Savitz to [email protected]

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