The changes at Intel (NASDAQ: INTC) keep coming as CEO Brian Krzanich transitions away from a reliance on components for PCs and targets burgeoning markets such as the Internet of Things (IoT), drones, and cloud data centers. That reorientation has in turn prompted a number of management shake-ups the past year, including the recent  departure of Kim Stevenson, the COO of Intel's key PC and IoT unit.

Stevenson was somewhat vague in her tweet announcing the decision to resign,  saying only: "Today was my last day at Intel. It's been a great 7 ½ years...on to new adventures." Intel President Murthy Renduchintala said he has already begun "looking at options" to fill her role.

It's been a somewhat tumultuous year for Intel following a restructuring that included cutting 15,000 jobs, realigning its management structure to better fit its transformation initiatives, and various executive departures. Though Intel didn't release many specifics, it was telling last month when it announced a training program to "fix management problems."

Investors don't appear overly concerned with the latest change, nor should they be. Intel ended 2016 with record quarterly and annual revenue  of $16.4 billion and $59.4 billion, respectively. Though its PC chip unit remains its largest for sales, its 7% jump in total revenue last year was largely driven by strong cloud data center and IoT results.

For the year, data center unit revenue climbed 8% to $17.2 billion, and IoT sales of $2.6 billion was a 15% improvement compared to 2015.


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Tim Brugger has no position in any stocks mentioned.

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