You are currently viewing SemiWiki as a guest which gives you limited access to the site. To view blog comments and experience other SemiWiki features you must be a registered member. Registration is fast, simple, and absolutely free so please, join our community today!
When a director brought in to help clean things up leaves after just two years, it indicates usually serious problems. I wonder if we should expect more board shake ups as time passes. Any thoughts if Intel can turn around and who would be the person to do it?
Intel Director Lip-Bu Tan Leaves Board of Ailing Chipmaker
-The industry veteran had joined board in September 2022
-Company has been cutting jobs as its turnaround bogs down
Intel Corp. director Lip-Bu Tan, a semiconductor industry veteran brought in two years ago to help with the chipmaker’s comeback effort, has stepped down from the board.
Tan informed the board on Aug. 19 that he would be leaving, effective immediately, Intel said in a filing on Thursday, confirming an earlier report by Bloomberg News. The director, a former chief executive officer of Cadence Design Systems Inc. who also runs an investment firm, cited “demands on his time” for driving the move.
When a director brought in to help clean things up leaves after just two years, it indicates usually serious problems. I wonder if we should expect more board shake ups as time passes. Any thoughts if Intel can turn around and who would be the person to do it?
Even before Lip-Bu Tan's resignation, Intel Board of Directors' background and experience are extremely mismatched to Intel's burning needs. It's heavy on finance, software, and academia. Other than Pat Gelsinger, there isn't a board member who has experience in leading or managing a large semiconductor company. It's a board full of nice people but not the right people.
Even before Lip-Bu Tan's resignation, Intel Board of Directors' background and experience are extremely mismatched to Intel's burning needs. It's heavy on finance, software, and academia. Other than Pat Gelsinger, there isn't a board member who has experience in leading or managing a large semiconductor company. It's a board full of nice people but not the right people.
This is a big loss. Its getting exciting/scary in that board room. FYI Stacy Smith has led two semiconductor companies.
Boards are often led by people outside market... often in a complementary market like Tan.
Hyperscaler person, AI person, Software person, EDA person.
There are A LOT of very tough board decisions to make and A LOT of responsibility the board needs to accept. Hope the D&O insurance is paid up.
There will be a lot of important announcements from Intel in the next 4-5 Months. Get ready
Even before Lip-Bu Tan's resignation, Intel Board of Directors' background and experience are extremely mismatched to Intel's burning needs. It's heavy on finance, software, and academia. Other than Pat Gelsinger, there isn't a board member who has experience in leading or managing a large semiconductor company. It's a board full of nice people but not the right people.
I just noticed that the URL I posted previously for the Intel's Board of Directors actually listed 28 people and many of them are merely Intel senior executives. I don't know why Intel can make such mistake. The link below listed only 12 directors. It's probably more close to the real situation.
This is a big loss. Its getting exciting/scary in that board room. FYI Stacy Smith has led two semiconductor companies.
Boards are often led by people outside market... often in a complementary market like Tan.
Hyperscaler person, AI person, Software person, EDA person.
There are A LOT of very tough board decisions to make and A LOT of responsibility the board needs to accept. Hope the D&O insurance is paid up.
There will be a lot of important announcements from Intel in the next 4-5 Months. Get ready
Stacy Smith does have some experience leading a semiconductor company and once he was Intel's CFO. He even managed to be the group president of sales, manufacturing, and operations at Intel Corporation overseeing the company’s global technology and manufacturinggroup and its worldwide sales organization.
What? A finance guy can oversee global technology and manufacturing group at Intel?
May the force be with Intel...
"Stacy J. Smith served as group president of sales, manufacturing, and operations at Intel Corporation overseeing the company’s global technology and manufacturing group and its worldwide sales organization. In other roles at Intel Corporation, he previously served as executive vice president, chief financial officer (CFO), and director of corporate strategy overseeing the company’s global finance organization including finance, accounting and reporting, tax, treasury, internal audit, investor relations, Intel Capital, information technology and the corporate strategy office.
Smith joined Intel in 1988 and has held positions in Finance, Sales and Marketing, and Information Technology. In March of 2006 he was appointed assistant chief financial officer. He has also held the position of chief information officer where he was responsible for Intel's Information Technology Group. He was the general manager of Intel Europe, Middle East and Africa (EMEA) where he was responsible for Intel product sales and marketing in the EMEA region. Smith became vice president of Sales and Marketing in 2002. Over the years, he has held Finance positions in various divisions, Components Manufacturing, Systems Manufacturing, and Sales and Marketing. He has been located with Intel in the US, Asia, Europe, and Latin America.
Smith holds an MBA degree in Finance from the University of Texas."
Note: I can't find what was Stacy Smith's college major.
