Overview
- Intel said Barratt will become independent chair after the May 13 Annual Stockholders’ Meeting, with Yeary retiring and not standing for reelection.
- Yeary has served on the board since 2009 and as chair since 2023, and he credited the selection of CEO Lip‑Bu Tan and progress on nodes such as Intel 18A and 14A.
- Barratt joined Intel’s board in November 2025 and brings leadership experience from Atheros/Qualcomm, Google, and Intel’s networking businesses, and currently serves on the boards of Intuitive Surgical and Astera Labs.
- Intel highlighted an ongoing board refresh begun in 2024 to add semiconductor and operational expertise as Tan executes a turnaround centered on manufacturing execution and AI, alongside significant headcount reductions.
- Shares fell about 5% following the announcement, according to market reports, as attention turned to the reported near‑10% U.S. government equity position stemming from CHIPS Act support.