Former Intel CFO to become chairman of the board

Intel’s former chief financial officer and current director Andy Bryant will take over as the company’s board chairman next month after the retirement of current chairman Jane Shaw.

According to a document filed with the US Securities and Exchange Commission, Bryant’s appointment has been approved by the company’s board of directors. All it will take now is formal shareholder approval.

The announcement is one of Intel’s worst kept secrets. We even reported it last year but it is always nice when things are official

Bryant was being groomed to be the company’s next chairman as Shaw’s retirement date approached, he had his legs waxed and his ears plucked all ready, sources claim.

Bryant is Intel’s board vice chairman and was given the role in July last year. It is the latest in a long line of posts at Chipzilla. His last job was chief administrative officer, where he monitored the company’s IT spending, manufacturing and finances.

Intel said in a proxy statement that the board decided that it and the company can benefit through Mr. Bryant’s extensive experience with Intel that includes 13 years of service as its CFO, and more recently as the senior executive responsible for the Technology and Manufacturing Group, Information Technology, Human Resources, and Finance.

Shaw became the chairman of the board in May 2009 and with her retirement, the size of Intel’s board will shrink to 10 directors.

Intel’s annual shareholder meeting will be held in Santa Clara, California, on May 17 to rubber stamp all this.