Intel named George Davis as chief financial officer, a man who held the same position at rival Qualcomm for the past six years.

Robert Swan, Intel’s chief executive officer, held dual roles as CFO and interim CEO for seven months until Jan. 31, when his position as the chipmaker’s top executive was made permanent. At that time, Intel said it would seek a full-time CFO.

Davis will report to Swan and oversee Intel’s global finance organization as well as information technology, tIntel said Tuesday. He had served as executive vice president and CFO at Qualcomm since March 2013. Previously, he was CFO at Applied Materials Inc. for six years.

Intel processors powering the majority of the world’s laptops and almost all server computers. However, Intel has delayed the introducing new chip-manufacturing technology, making it more vulnerable to competition.

Qualcomm announced that Dave Wise, the company’s treasurer, would take over as interim CFO while it seeks a permanent replacement for Davis.