Intel has appointed Eric Meurice, former CEO of ASML, and Steve Sanghi, president and interim CEO of Microchip Technology, to the company’s board of directors. Both are experienced leaders in the semiconductor industry and bring decades of expertise and significant achievements to the board, previously led by people with no experience in microelectronics. Interestingly, both fresh board members previously worked at Intel.
“As successful CEOs with a proven track record of creating shareholder value, they will bring valuable perspectives to the board as the company advances its customer priorities across Intel and Intel Foundry Products businesses while driving efficiencies and improving profitability,” said Frank D. Yeary , interim chairman of Intel’s board of directors.
Eric Meurice led ASML from 2004 to 2013, and during his tenure, the company’s market value increased fivefold as the company became a global leader in lithography. He was instrumental in launching the Customer Co-Investment Program, in which Intel, Samsung and TSMC supported the development of ASML’s EUV machines, which are now an imperative part of cutting-edge process technologies and factories. His previous roles included management positions at Thomson, Dell, ITT Semiconductors and Intel.
“I am excited to join Intel’s board as the company achieves historic pace of process technology innovation and transforms its business for the future,” said Meurice. “I look forward to working with other executives to continue to enhance Intel’s market competitiveness and deliver sustainable financial performance.”
Steve Sanghi, who served as CEO of Microchip Technology for 30 years, grew the company from a $10 million enterprise to a $44 billion company. Under his leadership, the company achieved 121 consecutive profitable quarters. Prior to joining Microchip, Sanghi held senior positions at Waferscale Integration and Intel.
“I am excited to share my experience and perspective as Intel pursues one of the most significant enterprise transformations in decades,” Sanghi said. “Intel is well positioned to capitalize on compelling opportunities in its product and foundry businesses, and I look forward to working with the board and leadership team to achieve the company’s goals.”
As Intel has become a more diversified company in terms of products, it has appointed people from outside the semiconductor industry to its board of directors. As a result, the board was flooded with people who had no experience in microelectronics.
Right now, the management board consists of 13 directors led by Frank D. Yeary, who has spent 25 years in the financial industry and is currently a managing member of private investment firm Darwin Capital Advisors LLC. Including Yeary, the board has five members with backgrounds in finance, venture capital and e-commerce. Two executives come from the healthcare industry, two from academia specializing in electrical engineering and semiconductors, one from the personal computer industry, and three currently have experience in the semiconductor industry.
