HOPKINTON, Mass. (TheStreet) -- EMC(EMC Quote) is set to announce Monday it has hired Patrick Gelsinger, who heads Intel's(INTC Quote) core chip business, to lead EMC's storage-products operations and some smaller software units, a report says.
The appointment of Gelsinger, 48 years old, is effective immediately. EMC also promoted Howard Elias, 52, to head EMC's services division, the Journal reports.
Joseph Tucci, the current chairman and CEO, said the two men, along with Chief Financial Officer David Goulden, 50, are all possible successors as CEO, the Journal reports. Tucci, 62, said he plans to resign as CEO in three years.
Putting the succession plans in place could quell speculation that EMC is a takeover target, the Journal notes. EMC has long been seen as a target of Cisco(CSCO Quote), according to the newspaper.
The New York Times reports that as Gelsinger departs, Sean Maloney, Intel's head of sales and marketing, will lead the company's PC, graphics and server chips divisions, while Dadi Perlmutter, the head of Intel's laptop chips, will now oversee engineering for all the chip divisions.
Maloney has been considered a likely successor to current Intel CEO Paul Otellini, the Times reports.
-- Reported by Joseph Woelfel in New York .
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