Intel Announces Senior Executives’ Retirement and Strategic Changes
SAN FRANCISCO: Senior Executives to Retire as Intel Undergoes Strategic Shift
Intel, the U.S. chipmaker, recently revealed plans for the retirement of three key executives from its manufacturing operations. This decision comes as part of CEO Lip-Bu Tan’s efforts to revitalize the company's position in the market, as reported by Reuters.
The departing corporate vice presidents include Kaizad Mistry and Ryan Russell from the technology development group, along with Gary Patton, a former IBM executive. Sources familiar with the matter mentioned that Intel is streamlining its technology development group by downsizing the manufacturing capacity planning team and part of the engineering team.
Not commenting on the specifics of the changes, Intel has made significant organizational adjustments under the leadership of Naga Chandrasekaran, who heads the manufacturing operations and technology development. Since taking over last year, Chandrasekaran has overseen restructuring efforts with layoffs being a part of the global strategy.
CEO Tan, who took the helm earlier this year, aims to reduce Intel’s workforce by approximately 22% to 75,000 employees by the end of the year. The company highlights a more prudent approach to manufacturing investments, focusing on the 14A manufacturing process contingent on securing new major customers.
Emphasizing the importance of customer commitments, Tan clarified in a recent memo that Intel’s 14A development will be customer-driven. Additionally, Intel is evaluating the future of its 18A process, contemplating whether to prioritize in-house usage over external customers, especially as it plans to advance with its Panther Lake PC chips using the 18A manufacturing technology this year.
This move signifies Intel’s strategic direction under Tan’s leadership to maximize returns and innovation while addressing market challenges.
