Why Jim Cramer Was Surprised By Intel's CEO Announcement

Jim Cramer was surprised by Intel's CEO announcement. Here's why.
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Intel (INTC) - Get Report announced its new CEO Thursday, Jan. 31.

And yet...it's someone that investors of the company are already familiar with.

Robert Swan, interim CEO, announced that he had officially taken the position of permanent CEO.

"The search committee conducted a comprehensive evaluation of a wide range of internal and external candidates to identify the right leader at this critical juncture in Intel's evolution," said Intel Chairman Andy Bryant. "We considered many outstanding executives and we concluded the best choice is Bob. Important in the board's decision was the outstanding job Bob did as interim CEO for the past seven months, as reflected in Intel's outstanding results in 2018."

However, as Cramer mentioned in his live show with the TheStreet, Swan had previously told the media that he was not interested in the position.

Here's what Cramer thinks about Swan's acceptance of the CEO position.

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