SAN FRANCISCO, March 3 (GeokHub) - Intel said on Tuesday that board chair Frank Yeary plans to retire following the company’s annual shareholder meeting in May, marking another leadership transition at the struggling U.S. chipmaker.
Yeary will be succeeded by Craig Barratt, who joined Intel’s board in 2025 and brings prior executive experience at Qualcomm and Google, a unit of Alphabet.
The move comes roughly a year after Lip-Bu Tan assumed the role of chief executive officer, part of a broader effort to stabilize and reposition the semiconductor giant amid intensifying global competition.
A Board in Transition
Yeary has served on Intel’s board since 2009 and became chair in 2023. During his tenure, he oversaw four CEO transitions and navigated a turbulent period that included the company’s manufacturing setbacks and the rapid ascent of Taiwan-based rival Taiwan Semiconductor Manufacturing Co, widely known as TSMC.
Intel’s board has undergone notable reshuffling over the past year. Three directors announced their departures shortly after Tan took the helm, reflecting an ongoing restructuring at the governance level as the company works to regain competitiveness.
In a statement, Yeary praised Intel’s recent progress in revitalizing its manufacturing technology and highlighted the board’s role in selecting Tan to lead the turnaround strategy.
CEO’s Turnaround Plan
Since becoming CEO, Tan has unveiled a sweeping plan aimed at restoring Intel’s technological leadership and adapting to the fast-growing artificial intelligence market.
Among the measures discussed last year was a workforce reduction of roughly 15%, potentially lowering headcount to about 75,000 employees. The restructuring is part of a broader strategy to streamline operations and refocus investments on advanced chip manufacturing and AI-driven innovation.
Tan previously served on Intel’s board alongside Yeary but had departed earlier over strategic disagreements before returning as CEO.
