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Intel Chairman Replacement: Ishrak Resigns, Yeri Takes Over

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News on January 24, on Monday local time, chipmaker Intel Corporation said that the chairman of the companyOmar IshrakResigned, director of the board of directorsFrank Yearywill take his place.

▲ Omar Ishrak

▲ Frank Yeri

Intel CEO Pat Gelsinger said: “Ishrak was instrumental in bringing me back to the company as CEO and fostering a sense of resilience on the board and management team. Capable working atmosphere.”

Gelsinger, who was the CEO of VMware, will return to Intel as CEO in 2021 to promote company reform and restructure the business in order to catch up with competitors.

Under Gelsinger’s leadership,Intel has been investing more, building chip factories across the U.S. and Europe.

“While the company certainly faces a daunting task, I firmly believe we have the right strategy,” Yeri said.

Yerry has served as an Intel director since 2009 and currently sits on the boards of PayPal, Intel subsidiary Mobileye, and several private companies.

Ishrak, who served as CEO of medical device maker Medtronic for nearly nine years, took over as chairman of Intel in 2020. Intel said Ishrak will continue to serve as an independent director on the company’s board.

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