Intel Board Chair Frank Yeary Retires After 17 Years; Craig Barratt to Succeed

• Intel board chair Frank Yeary is retiring after 17 years, marking a significant leadership change for the chipmaker.
• Craig Barratt, a veteran chip executive and current Intel board member, will succeed Yeary as chair after the May shareholder meeting.
• Yeary's departure is part of ongoing shakeups as CEO Lip-Bu Tan implements a turnaround plan, re-embracing manufacturing and cutting complexity.
• Critics, including analyst Jay Goldberg, suggest Yeary's departure was "long overdue" given Intel's past "bad decisions" during his tenure.
• Yeary served on the board since 2009 and as chair since 2023, overseeing four CEO transitions and Intel's decline against rivals like TSMC.