Intel has announced that three members of its 14-person board of directors will not seek reelection at the 2025 annual meeting on May 5, reducing the board to 11, as observed by Reuters. Two out of three directors come from the healthcare industry, and their departure marks the board's shift to become a more high-tech industry-focused one, which may be a good thing for Lip-Bu Tan, Intel's new chief executive.
The departing directors are Dr. Omar Ishrak, who formerly led Medtronic and stepped down as Intel's chair in early 2023; Dr. Risa Lavizzo-Mourey, a former University of Pennsylvania professor in population health and equity; and Dr. Tsu-Jae King Liu, a UC Berkeley engineering dean focused on microelectronics. Their exit follows the recent addition of Eric Meurice, ex-CEO of ASML, and Steve Sanghi, interim chief of Microchip Technology, in December.
This adjustment continues Intel's move away from its previous board composition, which used to include directors from academia, finance, healthcare, and PC industries. The current board includes five directors with finance, investment, or e-commerce backgrounds, two outgoing directors with healthcare ties, two from academia with a focus on electrical engineering and semiconductors, one from the personal computer sector, and three from the semiconductor industry.
The new board will lack directors from the healthcare industry and one from academia, but will have a stronger emphasis on industry-specific knowledge, which could be instrumental in supporting Intel's efforts to regain its competitive edge on products and process technology fronts.
"We are committed to having the right mix of skills, qualifications and technical expertise on the Board," wrote Frank D. Yeary, chairman of Intel with a background in finance, in a letter to shareholders. "In 2024 we added Eric Meurice, former President, Chief Executive Officer and Chairman of ASML, and Steve Sanghi, Chairman and Interim Chief Executive Officer of Microchip, as independent directors. Eric and Steve are highly respected and accomplished leaders in the semiconductor industry whose deep technical expertise, executive experience, and operational rigor make them great additions to the Intel Board — and they have had an immediate impact. We are also pleased to have Lip-Bu once again serving on the Board."
