(NASDAQ: INTC), which hopes to regain its once-powerful position on the chip market, has made an important hire for a critical manufacturing unit. It chose a veteran in that industry, and investors rewarded the company by pushing its stock more than 2% higher on Monday. That performance looked good when compared to the flat trajectory of the S 500 index on the day.

That hire is Kevin O'Buckley, whose tenure started that day. As general manager of Intel's foundry services, its contract chip-making unit, O'Buckley will report directly to CEO Pat Gelsinger. The incoming chief succeeds Stuart Pann, who is retiring from the company after a 35-year tenure but will serve as an advisor to its operations.

O'Buckley is a longtime veteran of the semiconductor industry. Immediately prior to his hiring at Intel, he was senior vice president at Marvell Technology where in a nearly five-year stint he served as general manager of that company's application-specific integrated-circuits (ASIC) business, among other positions.

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Source Fool.com