Farewell, Sir Alex

Manager calling it quits after 26 years at club's helm, including 13 Premier League titles

Jon Super / AP

Alex Ferguson's announcement Wednesday means he has two matches remaining as Manchester United's manager.

By ROB HARRIS

updated 5:19 a.m. ET May 8, 2013

MANCHESTER, England - Alex Ferguson is retiring at the end of the season, bringing a close to a trophy-filled career of more than 26 years at Manchester United that established him as the most successful coach in British football history.

"The decision to retire is one that I have thought a great deal about and one that I have not taken lightly," the 71-year-old Scotsman said in a statement on Wednesday. "It is the right time."

The club, which is owned by the American Glazer family and listed on the New York Stock Exchange, did not immediately announce a successor.

The early bookmakers' favorites for the job are David Moyes, whose contract at Everton expires at the end of the season, and Real Madrid manager Jose Mourinho, the former Chelsea boss who craves a return to England.

Since taking charge at Old Trafford in 1986, Ferguson has won a total of 38 trophies, including 13 Premier League championships, two Champions League titles and five FA Cups.

"It was important to me to leave an organization in the strongest possible shape and I believe I have done so," Ferguson said. "The quality of this league winning squad, and the balance of ages within it, bodes well for continued success at the highest level whilst the structure of the youth setup will ensure that the long-term future of the club remains a bright one."

Ferguson reversed a previous plan to retire at the end of the 2001-02 season.

After United secured its latest Premier League title two weeks ago - extending the club's record English championship haul to 20 - Ferguson declared that he had no retirement thoughts.

But now he has just two more league matches left in charge of the club he has turned into one of the world's biggest sports powers.

Ferguson has previously said only health problems would force him to relinquish the job, and it emerged over the weekend that he requires hip surgery. However, the retirement statement did not mention health issues.

Ferguson will continue to loom large at United as he will remain as a club director and ambassador.

"His contributions to Manchester United over the last 26 years have been extraordinary and, like all United fans, I want him to be a part of its future," joint chairman Avie Glazer said.

Talk of Ferguson leaving first surfaced following the club's golf day on Tuesday. When the official announcement came it prompted an outpouring of tributes from inside and outside the game.

FIFA President Sepp Blatter said on Twitter that Ferguson's "achievements in the game place him without doubt as one of the `greats'."

Former United striker Michael Owen said Ferguson's record "will surely never be eclipsed."

"What an act to follow," Owen tweeted.

The announcement even grabbed the British media spotlight from the buildup to the State Opening of Parliament, where Queen Elizabeth II, who knighted Ferguson in 1999, was setting out the government's planned legislation.

Ferguson has played a high-profile role campaigning for the Labour Party.

"Proud man. Great manager. Staunch Labour Party supporter," Labour Party leader Ed Miliband tweeted. "Sir Alex Ferguson will never be forgotten."

Tributes crossed the political divide, with Sports Minister Hugh Robertson, a member of the Conservative Party, praising Ferguson for his "enthusiasm for our national game."

Ferguson has defined the modern era of success at United, resuscitating the fortunes of a club that was floundering when he arrived more than a quarter of a century ago, having won a European title at modest Aberdeen in Scotland.

While it took time for Ferguson to impose his leadership at Old Trafford, directors showed a degree of patience rarely afforded to current managers.

Ferguson eventually produced his first trophy in 1990 - the FA Cup - and in 1993 the club won its first topflight title since 1967.

Since then, he has turned United into a European power and one of the world's wealthiest sports clubs. In addition to Champions League titles in 1999 and 2008, United has also won four League Cups and the 2008 FIFA Club World Cup.

"In my early years, the backing of the board, and Sir Bobby Charlton in particular, gave me the confidence and time to build a football club, rather than just a football team," Ferguson said. "Over the past decade, the Glazer family have provided me with the platform to manage Manchester United to the best of my ability."

Before United was listed on the NYSE last year, the club warned that "any successor to our current manager may not be as successful as our current manager."

"A downturn in the performance of our first team could adversely affect our ability to attract and retain coaches and players," United said in July.

---

Rob Harris can be reached at http://twitter.com/RobHarris

? 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Farewell, Sir Alex

Manchester United manager Alex Ferguson is retiring at the end of the season, bringing an end to more than 26 trophy-filled years at the club.

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Intel's CEO pick sticks to tried-and-true formula

FILE - In this Tuesday, Sept. 13, 2011.Intel CEO Paul Otellini, holds up a Google Android phone running on an Intel chip during the keynote address at the Intel Developer Forum in San Francisco. Intel said Thursday, May 2, 2013, that it has chosen Brian Krzanich, as its new CEO. Krzanich, who is 52, will replace Otellini on May 16, at the company's annual meeting. Otellini had announced his decision to resign in November. Otellini, 62, will be ending a nearly 40-year career with Intel, including an eight-year stint as CEO by the time he leaves. (AP Photo/Paul Sakuma)

FILE - In this Tuesday, Sept. 13, 2011.Intel CEO Paul Otellini, holds up a Google Android phone running on an Intel chip during the keynote address at the Intel Developer Forum in San Francisco. Intel said Thursday, May 2, 2013, that it has chosen Brian Krzanich, as its new CEO. Krzanich, who is 52, will replace Otellini on May 16, at the company's annual meeting. Otellini had announced his decision to resign in November. Otellini, 62, will be ending a nearly 40-year career with Intel, including an eight-year stint as CEO by the time he leaves. (AP Photo/Paul Sakuma)

FILE - In this Wednesday, March 28, 2007, file photo, Intel Corp. Vice President and General Manager of Assembly and Test Brian Krzanich makes his speech at the start of construction ceremony of the Assembly and Test Facility of Intel's chipset products at Saigon High Tech Park, Ho Chi Minh city, South Vietnam. Intel said Thursday, May 2, 2013, that it has chosen Krzanich, as its new CEO to steer the world's largest chipmaker in a world where PC sales are cratering while smartphones and tablets thrive. (AP Photo/Le Quang Nhat)

SAN FRANCISCO (AP) ? In picking Brian Krzanich as its next CEO, Intel Corp. stuck to a familiar playbook amid a game-changing shift in computing that has raised worries about the future of the world's largest chipmaker.

Ever since Intel co-founders Robert Noyce and Gordon Moore ceded their roles as the first two CEOs, the company has always promoted the second-in-command to the helm. That started in 1987 with Andy Grove, who served as the top lieutenant under the co-founders. After learning the ropes under Grove, Craig Barrett took over as CEO in 1998 and then handed the reins to his understudy, Paul Otellini, in 2005.

Krzanich, Intel's chief operating officer, was named its sixth CEO on Thursday. He will start in two weeks.

The succession formula worked well in a computing market dominated by desktop and laptop machines that ran on Intel's microprocessors and Microsoft Corp.'s Windows operating system.

But if there is a time to break from that tradition, this would be it. Traditionally strong in personal computers, Intel is facing a threat from smartphones and tablet computers, which demand lower-energy processors that Intel is late to master.

"We are a little disappointed that the board didn't bring in new blood at this critical juncture for the company," Wedbush Securities analyst Betsy Van Hees said. "We have seen a pretty significant shift in the tide, and they are now navigating some pretty tough currents. It would have been nice to have a fresh pair of eyes."

PC sales are declining as businesses and consumers embrace mobile computers ? most of which don't rely on Intel's chips. Microsoft has even created a lightweight version of Windows that isn't well suited for Intel's processors. The upheaval contributed to a 15 percent decline in Intel's profit last year.

Intel has been scrambling to develop power-sipping chips and designs better suited for the needs of mobile devices. But even if that effort is successful, the company's profit margins may be squeezed. That's because mobile chips sell for much less than PC chips.

Some analysts believe that Otellini, who is 62, decided to retire early because of the industry turmoil. The board had expected him to remain CEO until he turns 65 in 2015.

"It's time to move on and transfer Intel's helm to a new generation of leadership," Otellini said in November when he disclosed his plans to leave.

His retirement created an opportunity for the Santa Clara, Calif., company to hire an outsider as CEO for the first time in its 45-year history. Although external candidates were considered during the six-month search, the board concluded that Krzanich is the best leader to tackle the mobile computing challenge.

Krzanich, who is 52 and spent his entire career at the company, comes out of a manufacturing organization where meticulous attention is required to churn out processors with billions of minute details.

Just because Intel promoted from within doesn't mean there won't be changes, RBC Capital Markets analyst Doug Freedman said. He believes Intel plans to become less focused on engineering technological breakthroughs so it concentrate on helping its customers develop their products.

"Our view is Krzanich's appointment was awarded as a result of changes in the future direction of the company, with these changes expected to become visible over the next few quarters," Freedman said.

Investors evidently weren't disillusioned with Intel's CEO choice, which had been widely expected. Intel's stock rose 12 cents to close Thursday at $24.11.

Krzanich isn't inheriting Otellini's title of president. It will go instead to software chief Renee James, 48, creating a two-person "executive office" at the head of the company.

Gartner Inc. analyst Sergis Mushell believes one of the reasons Intel promotes from within is because of the difficulty finding outsiders capable of running a business with the size and complexity of Intel. The company generates $53 billion in annual revenue, employs 105,000 people and operates dozens of offices and plants around the world.

"By the time an outsider got a feel for things, the company could be already lost," Mushell said.

Mushell named Cisco Systems Inc. CEO John Chambers and Apple Inc. CEO Tim Cook as among the few people who could have run Intel, as they already have experience in managing large high-tech manufacturing operations.

Beyond that, he said, "you need someone who has grown through the ranks that understands the complexity of the ship. You need someone who knows when he turns one knob on the ship to the right, he has to turn another knob to the left."

Intel previously faced competitive threats to its PC franchise from other chipmakers such as Advanced Micro Devices Inc. and the now-defunct Transmeta Corp. Under the regimes of Grove and Barrett, Intel managed to thwart those threats, partly by relying on cut-throat sales tactics. Those methods resulted in lawsuits alleging that Intel was illegally trying to stifle competition. Intel paid AMD $1.25 billion to settle one complaint and resolved Federal Trade Commission allegations by agreeing to change some practices.

In those instances, Intel was fending off a threat in an area that it had already been dominating. Intel processors are the brains behind four out of every five PCs.

Krzanich will have to come up with a strategy to make Intel a more formidable force in a new era of computing.

"He doesn't have an easy job ahead of him," Van Hees said. "He is facing challenges no other Intel CEO has had to face."

In an interview, Krzanich said he will tackle the challenge of declining PC sales by relying on the assets that Intel is built on: its engineering prowess and enormous, billion-dollar chip factories, which feature technologies that are years ahead of its competitors.

By promoting from within, Mushell said Intel's board is signaling its belief that nothing is seriously wrong at the company.

"The message here is that Intel is not shaken," Mushell said. "A lot of people thought this CEO selection would lead to a new Intel that would be flipped upside down. This clearly shows this is the same Intel."

___

AP Technology Writer Peter Svensson in New York contributed to this story.

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Woman who killed cop in '73 named most wanted terrorist

NEWARK, N.J. (AP) ? The reward for the capture and return of a fugitive member of a black militant group convicted of murdering a New Jersey state trooper was doubled to $2 million Thursday on the 40th anniversary of the bloody gun battle.

The FBI also announced it has made Joanne Chesimard, now living in Cuba as Assata Shakur, the first woman on its list of most wanted terrorists.

"She continues to flaunt her freedom in the face of this horrific crime," State Police Superintendent Col. Rick Fuentes said at a news conference Thursday. Fuentes called the case "an open wound" for troopers in New Jersey and around the country.

The Justice Dept. has maintained a $1 million reward for information leading to her capture. The additional money is being put up by the state of New Jersey through civil and criminal forfeiture funds and won't fall on taxpayers, state Attorney General Jeffrey Chiesa said Thursday.

Chesimard, a member of the violent Black Liberation Army, was convicted of the 1973 murder of state trooper Werner Foerster during a traffic stop. The BLA was responsible for killing more than a dozen police officers in the 1970s and 80s, said Aaron Ford, special agent in charge of the FBI's Newark division.

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She was convicted in 1977 but escaped from prison in New Jersey in November 1979 with the help of accomplices. She spent the next few years living in safe houses, two of which were in New Jersey and Pennsylvania, before surfacing in Cuba in 1984, Fuentes said.

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"She is a domestic terrorist who murdered a law enforcement officer execution style," he said. "And while we can't right the wrongs of the past, we can and will continue to pursue justice no matter how long it takes."

Chesimard is believed to be one of dozens of American fugitives living in Cuba, many of them one-time members of U.S. militant groups. Cuba doesn't haven an extradition agreement with the U.S. due to the chilly relations between the two countries over the last five decades, but the climate appears to be slowly changing.

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"Our resolve to capture Joanne Chesimard does not diminish with the passage of time," Chiesa said. "Instead, it grows stronger with the knowledge that this killer continues to be free. Our hope is the augmented reward will spur action that will bring Joanne Chesimard back to face the justice she has evaded for far too long."

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