On Monday, January 24, chipmaker Intel said that its chairman, Omar Ishrak, had resigned and that board director Frank Yeary would take his place.
▲ Omar Ishrak
▲ Frank Yeary
Pat Gelsinger, CEO of Intel, said, “Ishrak was instrumental in bringing me back to the company as CEO and fostering a stress-resistant work atmosphere on the board and in the management team.”
Geilsinger, formerly CEO of VMware, returned to Intel as CEO in 2021 to drive corporate change and restructure the business to catch up with competitors.
Under Geerzinger’s leadership, Intel has been investing more in building chip factories across the United States and Europe.
Yerry said, “While the company certainly faces a daunting task, I am confident that we have the right strategy.”
Yeri has been an Intel director since 2009 and is also currently a board member of PayPal, Intel subsidiary Mobileye, and several private companies.
Ishraq served as chief executive of medical device maker Medtronic for nearly nine years before taking on the role of Intel chairman in 2020. Intel said Ishraq will continue to serve as an independent director on the company’s board.