Lateral moves, even downward ones, are part of the corporate culture at Intel. At most large companies this type of job switching at the C-level would come as a surprise, but if you read some of the stuff Andy Grove and others have written about Intel's "matrix" practices, it's not too shocking.
Basically, they believe that experience across multiple areas of the business is a good thing, and that no one should become too attached to a particular position or title.
Basically, they believe that experience across multiple areas of the business is a good thing, and that no one should become too attached to a particular position or title.