Qualcomm CFO George Davis (pictured) ended a six year career with the company, joining rival Intel to oversee the financial and IT units effective immediately.
In an Intel statement, Davis explained he believes the company is in the best position to capitalise on the opportunities presented by rapid growth in “demand for the analysis, transmission and storage of data”.
He will report to Intel CEO Bob Swan, who joined as CFO in 2016 and was promoted to CEO in January this year, sparking a hunt for a permanent successor. Intel said Davis’ duties will cover accounting and reporting; tax; treasury; internal audit; and investor relations.
Swan said Davis 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”.
The two have worked together before: prior to joining Qualcomm, Davis was CFO at semiconductor equipment company Applied Materials when Swan served on its board.
Qualcomm appointed David Wise, SVP and treasurer, as interim CFO while it looks for a permanent replacement.Subscribe to our daily newsletter Back