From mid‑May, the Intel vice president will replace the board chair.

Intel Announces Change in Board Leadership

This week Intel confirmed that personnel changes will soon occur at its top management.

- Frank Yeary

- Since 2023 he has served as chairman of the board.
- In mid‑May he will step down, and his duties will end after the shareholders’ meeting on May 13 this year.
- Yeary joined the board in 2009 and will not be re‑elected.

- Craig Barratt

- With more than three decades of industry experience, Barratt previously led Barefoot Networks before its acquisition by Intel in July 2019.
- He has been a board member since last November and will now become an independent chairman.
- His past roles include positions at Qualcomm, Google, and Intel (including senior vice‑president for networking solutions and photonics).

Key Points from the Press Release

1. Frank Yeary’s Transition

- Lip-Bu Tan, the current CEO, expressed gratitude for Yeary’s contributions during the company’s transformation period.
- According to Yeary, the last 18 months were decisive for restoring discipline and innovation, as well as strengthening financial performance.

2. Craig Barratt’s Experience

- In his welcome address he emphasized a commitment to supporting manufacturing and research in the United States, and to positioning Intel at the forefront amid intensified competition.
- He serves on the boards of Intel, Intuitive Surgical, and Astera Labs.

3. New Independent Board Members

- From 2024 onward, four new independent directors joined the board, strengthening corporate governance.

Thus, Intel concludes another leadership phase: Frank Yeary steps down as chairman, and Craig Barratt takes his place, while the company continues to reinforce its development strategy and industry leadership.