Intel senior executives Kirk Skaugen and Doug Davis, who head the chipmaker’s PC chip and IoT divisions, respectively, are leaving the company. Skaugen is leaving "for his next career opportunity," Intel said Monday. Davis, head of Intel’s Internet of Things group, is retiring at the end of the year, the company said.

The departure of the two follows last November’s appointment of former Qualcomm executive Murthy Renduchintala to a position above them, reporting directly to Intel Chief Executive Officer Brian Krzanich.

The changes are part of Intel's effort to revitalize a slumping market for PC chips and make headway in new markets for its products.

Skaugen’s deputy, Navin Shenoy, is being promoted to replace him, the company said. Davis, who has been with Intel for 32 years, will remain in his job until a successor is found.

Last month, Intel also announced the resignation of Aicha Evans, the head of its struggling mobile phone chip business.