Intel (NASDAQ:INTC) just elevated COO Brian Krzanich to CEO. The Chipzilla has been looking for a new leader since current CEO Paul Otellini announced his retirement six months ago.

Krzanich is the obvious pick, perfectly in keeping with decades of Intel's king-maker tradition. But his highly technical background with a focus on chip manufacturing operations also throws new wrinkles into the company's strategy mix. Will Krzanich be the guy who finally brings Apple's (NASDAQ:AAPL) mobile chips into Intel's factories?

In this video, Fool contributor Anders Bylund walks you through Intel's long-awaited announcement, and what it means for investors.

Fool contributor Anders Bylund owns shares of Intel. The Motley Fool recommends Apple and Intel. The Motley Fool owns shares of Apple and Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.