SAN FRANCISCO, March 3 (Reuters) - Intel said on Tuesday that board chair Frank Yeary plans to retire following the company's annual meeting in May and will be replaced by Craig Barratt.
Yeary's departure is a major shakeup for the struggling U.S. chipmaker's board, roughly a year after CEO Lip-Bu Tan took the top-boss job. Yeary served on the board since 2009 and presided over four CEO transitions during his tenure.
Barratt joined the Intel board in 2025 and has experience working at Qualcomm, and at Alphabet's Google.
(Reporting by Max A. Cherney in San Francisco; Editing by Matthew Lewis)
Frank D. Yeary was the founder of Level Money, Inc., founded in 2012, serving as Chairman from 2012 to 2015. Mr. Yeary was the founder of CamberView Partners LLC, founded in 2012, serving as Executive Chairman from 2012 to 2018. Mr. Yeary is the founder of Darwin Capital Advisors LLC, founded in 2012, serving as Managing Member since 2018. Mr. Yeary is the founder of WriteLab, Inc., founded in 2013, serving as Director & Founding Investor since 2013. Mr. Yeary is also the founder of Plus One Media Group, Inc... Mr. Yeary is Chairman at Intel Corp. since 2025. Mr. Yeary is Independent Director at PayPal Holdings, Inc. since 2015. Mr. Yeary is Honorary Director at New York Public Radio. Mr. Yeary is Director at Bright Funds, Inc. Mr. Yeary is Independent Director at Mobileye Global, Inc. since 2022. Mr. Yeary is Investment Partner at Nyca Partners LLC. Mr. Yeary was Director at eBay, Inc. in 2015. Mr. Yeary was Director at NorthPoint Communications Group, Inc. Mr. Yeary was External Director at SmartSky Networks LLC. Mr. Yeary was Principal at Lehman Brothers, Inc. Mr. Yeary was Global Head-Technology, Media & Telecom at Citigroup Global Markets Holdings, Inc. Mr. Yeary was Partner & Head of Communications at The Carlyle Group LP (Corporate Private Equity) in 2000. Mr. Yeary was Global Head of Mergers & Acquisitions at Smith Barney Asset Management in 2008. Mr. Yeary was Chief Administrative Officer & Vice Chancellor at the University of California, Berkeley from 2011 to 2012. Mr. Yeary was Principal at Salomon Brothers, Inc. Mr. Yeary was Trustee at The Fresh Air Fund. Mr. Yeary was Principal at Lehman Brothers, Kuhn, Loeb, Inc. Mr. Yeary was MD, Global Head-Mergers & Acquisitions at Citigroup Global Investments from 2003 to 2008. Mr. Yeary completed undergraduate education at the University of California, Berkeley.
Intel Corporation is the world leading manufacturer of semiconductor. Net sales break down by family of products and services as follows:
- computing architectures products (69.7%): processors and microprocessors (Pentium, Intel Xeon brands, etc.), graphics cards, chips and motherboards, connectivity products, cellular modems, Ethernet controllers, network components, storage products, etc. for PCs, servers, data centers, cloud networks, workstations, notebooks, Internet of Things, graphics architectures, intelligent peripherals and communications infrastructures. The group also develops associated software;
- wafer manufacturing services (25.3%): accelerators, monolithic chips, silicon wafers, etc. The group also offers chiplet software and mask manufacturing equipment for advanced lithography;
- other (5%).
Net sales (including intragroup) are distributed geographically as follows: the United States (29.8%), China (24%), Singapore (18.1%), Taiwan (14.5%) and other (13.6%).
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