While the appointment of new CEO Lip-Bu Tan at Intel has dominated the news, Intel has also restructured its board cutting the number of members to 11, with the board now said to be better aligned with its strategic focus.
Speaking at the company’s Intel Vision conference Tan made a pledge to give the company’s engineers a stronger voice and suggested that innovative ideas had often struggled to take root in the company.
A top priority for Tan, is to attract and retain engineering talent, but he also wants to streamline Intel’s overly large middle management. Tan is seen as viewing it as excessive and as slowing down decision-making.
But Intel has not been alone in shaking up its management team and approach to business.
Wolfspeed has appointed industry veteran Robert Feurle as its new CEO. His appointment comes at a very difficult time for the company which has seen its valuation plummet as worries have mounted that funding via the US CHIPS Act, could be pulled by the Trump administration.
While here in Europe Italy is planning to appoint Marcello Sala - head of the economy ministry department overseeing state-owned enterprises and asset disposals - as a member of the supervisory board at STMicroelectronics.
The Italian government is looking to examine ST’s workforce reduction plans, which are part of a $300 million cost-cutting initiative which could put around 2,000 jobs at risk.
These new appointments come at a time of change for the semiconductor industry, which is being transformed by the explosive growth of AI, evolving supply chain dynamics and new emerging global technology alliances.
