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Intel Reportedly Hires Spencer Stuart; Next CEO From Outside?

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Intel has hired the executive search firm Spencer Stuart to help the company find a successor for CEO Paul Otellini, Bloomberg reports, in what the story suggests is a sign that the company is seriously considering going outside Intel to find its next leader.

Otellini previously announced that he will retire in May.

At the time of the announcement, speculation on the next CEO centered on three internal candidates, all of whom were given the added title of executive VP on the day the company made Otellini's retirement announcement: COO and manufacturing chief Brian Kraznich, CFO Stacy Smith and software exec Renee James. Many insider believed that Kraznich, who has deep knowledge of the company's manufacturing operations, had the upper hand. But in recent months there has been growing speculation among those close to Intel that the company's board might not be happy with the internal options. Note, however, Intel has never previously hired a CEO from outside the company.

Intel says the board will look equally at internal and external candidates. Otellini previously has said that he thinks picking an insider is the most likely outcome - but it isn't his call.

INTC this morning is up 8 cents, to $21.27.