Intel Recruits Two New Board Members

Intel added Eric Meurice and Steve Sanghi to its board of directors, both very experienced in the semiconductor segment. The decision follows the abrupt departure of former CEO Pat Gelsinger earlier this week.

Meurice served as president and CEO of ASML from 2004 to 2013 while Sanghi is chair of Microchip Technology’s board. Sanghi is currently interim CEO and president at Microchip Technology after a previous stint as CEO from 1991 to 2021. Frank Yeary, who is interim executive chair following Gelsinger’s departure, stated Meurice and Sanghi will bring valuable perspectives to the board as the company delivers on its priorities for customers in Intel Products and Intel Foundry while driving greater efficiency and improving profitability.

Yeary, the independent chair of the board of Intel, was among those unhappy with Gelsinger’s plan to revive the company, which led to the board of directors giving him the option of retiring or being removed during a meeting last week. The move to bring on Meurice and Sanghi as independent directors could signal Intel is exploring various options going forward.