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Intel Names New Capital Investment Head

Intel named a new president to lead Intel Capital, its investment division. The move is part of an executive shuffle at the company.

The Santa Clara, Calif.-based firm said Arvind Sodhani, senior vice president and currently treasurer at Intel, will become president of Intel Capital. His replacement as treasurer will be named later.

Sodhani replaces John Miner, vice president and president of Intel Capital, who is leaving the company on June 1 "to pursue other interests."

As the company's strategic investment arm, Intel Capital has quite a reach. The Intel Communications Fund supports development of technologies complementary to Intel's Internet Exchange Architecture, CT Media software, Intel Personal Internet Client Architecture and Intel XScale Microarchitecture. Its scope has been expanded to include wireless and wireless LANs. In October 2002, the Communications Fund earmarked $150 million for investment in companies working on Wi-Fi. The idea was to create a market for the Centrino wireless-enabled laptop chip, introduced in March 2003.

Last year, Intel started its $200 million Intel Digital Home Fund to invest in companies developing hardware and software for consumer entertainment. The fund has invested in companies like BridgeCo, which designs low-cost chips for digital media adapters that link home devices; Entropic, which designs chips for home networking over coaxial cabling; and MusicMatch, which sells software for recording, organizing and playing music.

The company also supported an Intel 64 Fund to invest in companies developing products using the company's Itanium-based servers and workstations.

Earlier this week, Intel Capital invested an undisclosed sum in E Ink Corp., which makes electronic paper display technology. The company's products are used in electronic book devices, information kiosks and advertising signage. Future uses for E Ink's technology include smartcards, watches, clocks, medical devices, consumer electronics and mobile phones.

Also leaving Intel is Pam Pollace, vice president and director of Intel's corporate communications group. Pollace joined Intel in 1987 as corporate spokesperson and later directed all of Intel's worldwide press relations. The company said she will leave Intel on May 1.

"John Miner and Pam Pollace have been key contributors to Intel's success for many years," Intel CEO Craig Barrett said in a statement. "John successfully developed key new growth areas for Intel in PC building blocks, the enterprise back office, and later in communications products. More recently he has managed our very successful strategic venture investing program. Pam oversaw our press communications through major Intel eras and later led corporate marketing in the successful worldwide launch of Intel Centrino mobile technology."