As an Intel shareholder, (only bought when it tanked after quarterly earnings this year), I can say this is exactly what I was waiting for.
I'm not super sensitive to exactly who replaces Bob, though Pat seems like a decent choice having read about him now.
I will say I was ready to unload the shares if Bob was replaced with another MBA though. Having a non-engineer lead an organization like Intel was a disastrous choice and seriously makes me question the boards judgement.
The stock jumped quite high though. Not sure if its because really bad ceo was replaced with slightly less bad one.