INTC Intel Corporation

Intel Corp. said veteran finance executive Bob Swan would be its next CFO, ending months of speculation as to who would replace long-time finance chief Stacy Smith.

Mr. Swan was the CFO of eBay Inc. for nine years, leaving the company after helping to spin out its PayPal operations last year. Following eBay Mr. Swan went to General Atlantic LLC, a growth equity firm, as an operating partner.

Mr. Swan joins Intel Oct. 10. A General Atlantic spokeswoman declined to comment on the move.

"I'm thrilled to join Intel, a company where incredible innovation is supported by strong financial management," Swan said in a statement.

Mr. Swan succeeds Stacy Smith, who was promoted to the chief operating officer role in April. Mr. Smith joined Intel in 1988 and had served as CFO since 2007. In his new role, Mr. Smith oversees sales, manufacturing and operation, with roughly half the company's employees reporting to him, according to chief executive Brian Krzanich.

At eBay, Mr. Swan helped engineer the spinout of PayPal in 2015. He has a long resume of CFO jobs. Prior to joining eBay, Mr. Swan was CFO of Electronic Data Systems Corp., TRW Inc. and The Webvan Group Inc. He spent 15 years at General Electric Co., serving as finance chief for GE Lighting Solutions LLC, GE Transportation and CFO of the European division of GE Medical Systems, according to Factiva.

Mr. Swan sits on the boards of eBay and Applied Materials Inc., as well as App Dynamics and Alignment Healthcare, according to the General Atlantic website.

(END) Dow Jones Newswires

September 19, 2016 17:05 ET (21:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.