Omar Ishrak steps down as Intel’s Chairman
Intel’s Chairman Omar Ishrak had stepped down, with board director Frank Yeary appointed as his replacement.
Intel Chief Pat Gelsinger said, “He (Ishrak) was instrumental in bringing me back to the company as CEO and has fostered a high-impact working dynamic across the board and management team.” Pat Gelsinger returned to Intel in 2021 as CEO from VMware to drive change at the company, which is restructuring its business to catch up with competition.
Frank Yeary said, “While the company certainly has big tasks ahead of it, I'm confident we have the right strategy in place.” Frank Yeary has been an Intel director since 2009 and also serves on the board of PayPal Holdings, Intel’s Mobileye, and other private companies.
Omar Ishrak will continue as an independent director on Intel’s board. He was the CEO of medical device maker Medtronic for around nine years, becoming Intel’s chairman in 2020. The U.S. chipmaker has been ramping up investments to make chip factories across the United States and Europe.
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