Intel Corp Appoints David Zinsner As New CFO

JAKARTA - Chipmaker Intel Corp. on Monday, January 10, appointed Micron Technology Inc. chief financial officer, David Zinsner, as chief financial officer and executive vice president of the brand company.

Zinsner, who will start his job on January 17, previously joined Micron in 2018 and has more than 20 years of financial and operational experience in semiconductors and manufacturing.

Micron, meanwhile, appointed Chief Business Officer, Sumit Sadana, as interim CFO and said it was looking for a permanent chief financial officer at their company.

Intel shares were up as much as 5.4% in after-hours trading on news of the move, while Micron shares were down about 2%.

Intel appointed Zinsner because previously longtime CFO, George Davis, will retire this May 2022.

Separately, the chipmaker said Executive Vice President Michelle Johnston Holthaus will lead its client computing group, a segment that accounts for more than half of its third-quarter revenue, by 2021.

As reported by Reuters, Intel said Gregory Bryant, the previous head of the unit, would leave Intel at the end of January to take a job elsewhere. However, they did not provide further details on the reasons for Bryant's departure.