- Intel appoints former ASML and Microchip CEOs to its board as it seeks new leadership.
- The move comes as the company strives to regain ground in advanced chipmaking.
What happened: Chip industry veterans join Intel’s board to drive recovery
Intel has announced the addition of two industry veterans, Eric Meurice and Steve Sanghi, to its board of directors. The decision follows the recent removal of CEO Pat Gelsinger and the company’s ongoing search for a successor. Both new appointees bring extensive experience and previously held positions at Intel during their early careers.
Eric Meurice, former CEO of ASML, led the company from 2004 to 2013 and played a key role in advancing extreme ultraviolet lithography (EUV) tools, a technology where Intel lagged behind competitors like TSMC. Steve Sanghi, interim CEO of Microchip Technology, has over 30 years of leadership experience, including navigating supply chain challenges in the automotive chip market. Their expertise aligns with Intel’s focus on revitalising its manufacturing and design capabilities.
Also read: Eric Schmidt eyes $5B valuation for AI and quantum technology
Also read: Intel CEO Pat Gelsinger announces retirement
Why it is important
The appointments underscore Intel’s effort to address its technological and market setbacks. The company has struggled to keep pace with Nvidia in AI chip design and TSMC in advanced manufacturing. Pat Gelsinger’s strategy to pivot towards contract manufacturing had limited success, with Intel’s market value now dwarfed by Nvidia’s.
By bringing in Meurice and Sanghi, Intel aims to enhance its board expertise and chart a path to recovery. Interim co-CEO David Zinsner has indicated that the next CEO must have a combination of manufacturing prowess and product development experience. The new board members’ backgrounds could play a critical role in shaping Intel’s strategy as it battles to regain its leadership in the semiconductor industry.
