Intel Corporation (NASDAQ:INTC) has announced that two of its senior executives will be retiring from their position. The announcement comes at the height of falling PC prices.

Kirk Skaugen is one of the executives who will be leaving the firm. He is one of the company’s highly regarded heads, and he was the senior vice president of the company’s computing division which is valued at $34 billion. He is expected to wind up his position as of April 8 after which he will proceed to his next opportunity. Skaugen will be succeeded by Navin Shenoy, who is currently the vice president of mobile client at Intel.

The other executive to retire from his executive position at Intel is Doug Davis, who has been the head of the Internet of Things division at the company. Davis will maintain his position a little longer, but he has announced that he will resign towards the end of the year. So far, the firm as not selected the candidate to take over after Davis. Intel has also announced that Davis will continue to lead the division until a successor is found.

Both executives have been exceptional leaders heading some of the most vital divisions of the company. Davis has been in the firm for 32 years and has been a key figure in the development of the development of the $2 billion IoT group. The announcement comes just one week after the departure of mobile chip unit head Aicha Evans, who has held the position less than a year. A spokesman from the company stated that Intel did not have any comments about the departure of Evans.

Intel has been trying to focus on new areas following the declining PC sales in recent times. The firm has been venturing into the sale of smartphone chips and a variety of IoT devices. The departure of the executives could further dent the performance of the company, but it is also worth noting that the new positions will usher in new blood. This could also present itself as a great opportunity for the company to seek a new perspective.