Intel's New Board Members: Driving Chip Industry Growth

Intel Corporation, the world's leading semiconductor manufacturer, has appointed two industry veterans, Eric Meurice and Steve Sanghi, to its board of directors. This move comes amidst a CEO search following Pat Gelsinger's abrupt retirement. Both Meurice and Sanghi bring decades of experience and expertise to Intel, aiming to drive the company's growth and competitiveness in the dynamic chip industry.



Eric Meurice, the former president, CEO, and chairman of ASML Holding N.V., is a renowned leader in the semiconductor industry. His stewardship at ASML resulted in a five-fold increase in the company's market value. Meurice's deep technical expertise and operational rigor will be invaluable in enhancing Intel's market competitiveness and delivering sustainable financial performance.

Steve Sanghi, the chairman and interim CEO of Microchip Technology Inc., has a proven track record of driving profitability and growth. Under his leadership, Microchip Technology achieved 121 consecutive quarters of profitability and grew its market value from approximately $10 million to $44 billion. Sanghi's operational excellence and shareholder value creation strategies can help Intel improve efficiency and market competitiveness.



The appointment of Meurice and Sanghi signals Intel's commitment to improving profitability and competitiveness in the semiconductor industry. With the company navigating a transformation and facing industry challenges, these new directors' insights and perspectives can be crucial in driving Intel's success.

While Intel searches for a new CEO, interim co-CEOs David Zinsner and Michelle Johnston Holthaus will collaborate with Meurice and Sanghi to ensure the company's core strategy remains intact. By focusing on execution, returns on investment in the foundry business, and incremental improvements in product development, Intel can capitalize on attractive opportunities across its product and foundry businesses.

In conclusion, Intel's appointment of Eric Meurice and Steve Sanghi to its board of directors demonstrates the company's commitment to fostering growth and competitiveness in the semiconductor industry. Their combined expertise and track records of success can help Intel navigate industry challenges, maintain competitiveness, and deliver on its priorities. As Intel continues its CEO search, the insights and leadership of Meurice and Sanghi will be vital in driving the company's future success.