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Intel welcomes new Executive Vice President

Intel Corporation appointed George S. Davis, a veteran from its rival Qualcomm, as Executive Vice President and head of finance effective April 3, 2019.

Davis has been with Qualcomm since 2013 as Chief Financial Officer and Executive Vice President. After almost 6 years at Qualcomm, Davis departs from the company to join Intel with the same position.

Davis will be filling the position of Bob Swan, now the Chief Executive Officer of Intel. Davis will oversee the overall finance organization of Intel which includes accounting and reporting, finance, tax, treasury, internal audit and investor relations. He will also supervise the information technology (IT) organization of Intel.

“I’m thrilled to be joining the Intel team,” Davis said. “With demand for the analysis, transmission and storage of data growing faster than ever, 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.”

wan also acknowledge Davis saying, “I know George is a world-class CFO, leader and team-builder.” 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.”

Meanwhile, Qualcomm named David Wise, currently the Senior Vice President of Finance, as interim CFO while the searching for Davis replacement is ongoing.

Davis’s regime at Qualcomm has been very evident as the company’s balance sheet was sustainably strong. Steve Mollenkopf, Chief Executive of Qualcomm thank Davis saying “On behalf of the Executive Team, I want to thank George for his dedicated service over the last six years at Qualcomm. We all wish him well in his future endeavors.”