The more profound transition at Intel

Today Paul Otellini takes the reigns from Craig Barrett as the chief executive of Intel. Otellini is a 31-year Intel veteran. Barrett, who becomes chairman of the company, joined at about the same time at Otellini. But the real transition is that Andy Grove, a former CEO and now former chairman of Intel, is stepping down from active board duty. The 69-year-old Grove joined Intel as its fourth employee in 1968. He wrote the book on the tech industry-- Only the Paranoid Survive : How to Exploit the Crisis Points That Challenge Every Company--and survived the perils of Eastern Europe to become an tech industry icon.

News.com's Michael Kanellos captures some of Grove's last official Intel moments:

After a lengthy introduction, in which the speaker citied Machiavelli, Grove asked the shareholders, "Would someone bring a resolution from the floor that Andy Grove will hereinafter be called the Prince?"

Later he announced his own technology law. "For years and years I have wanted to have a law named after me. Call it a case of Moore envy," he said. "And this is it. Technology will always win. You can delay technology by legal interference, but technology will flow around legal barriers."