Intel's co-founder Gordon Moore retires from board
SANTA CLARA, Calif., May 24 (Reuters) - Gordon Moore, co-founder of No. 1 semiconductor manufacturer Intel Corp.(Nasdaq:INTC - news), retired from the company's board on Thursday after 33 years at the high-technology titan.
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Former Federal Communications Chairman Reed Hundt was elected to the board to replace Moore, 72, who is perhaps best known for what is now called Moore's Law: that the power of semiconductors doubles every 18 months while the cost to produce them remains about the same.
The move, announced April 11, came at the company's annual shareholder meeting held in Santa Clara, Calif., where the 33-year-old chipmaker is based. Moore was in attendance at the meeting and the roughly 1,000 people at the meeting gave him an extended ovation.
Craig Barrett, Intel's chief executive, along with Chairman Andy Grove, thanked Moore, recalling a conversation the two had in 1984 while traveling by car between two Intel buildings in which Moore urged Barrett not to leave the company for a position he had been offered elsewhere.
``Gordon told me that I had a future at Intel,'' Barrett said. ``Thank you, Gordon.''
During Hundt's tenure as head of the FCC, he presided over the the Telecommunications Act of 1996, which effectively deregulated the industry and opened the doors for the massive consolidation seen in recent years with AT&T Corp. expanding into cable television and WorldCom Inc.'s rapid growth.
Moore co-founded Intel in 1968 with Robert Noyce, when the two left Fairchild Semiconductor
Moore's law has held true now for decades and is expected to apply for the next 10 years as engineers continue to find ways to shrink the transistors that make up a semiconductor.
Intel's board has an established policy that directors step down at the age of 72, so the announcement was not unexpected, |
