Intel Chairman Frank Yeary to Retire, Craig Barrett Named Successor

American chip giant Intel has announced that long-serving board chair Frank Yeary will retire. In a statement on Tuesday, 3 March, the company confirmed that current board member and veteran chip industry executive Craig H. Barrett will succeed Yeary following the annual shareholders’ meeting in May of this year, according to Reuters.

Yeary, who has been a member of Intel’s board since 2009 and served as chairman since 2023, cited the company’s clear strategic direction and financial stability as the reasons for his resignation.

His departure comes just days after CEO Lip-Bu Tan completed one year at the helm. Tan, tasked with Intel’s turnaround, initiated significant reforms last year, including reducing the workforce by nearly 20 percent, reviving production operations, and restructuring the company’s strategy toward artificial intelligence (AI).

Analysts and former Intel executives have welcomed Barrett’s appointment, noting his deep experience in the semiconductor sector. J. Goldberg, an analyst at C-PORT Securities, observed that Yeary’s exit had long been anticipated, as Intel made several “poor decisions” during his tenure on the board.

Notably, Intel has consistently lagged since 2010, when it failed to enter the mobile phone chip market and struggled to keep pace with rival TSMC, resulting in a decline of the once-dominant chipmaker.

Regarding Barrett’s new role, CEO Tan stated, “Craig brings deep semiconductor expertise. As we enter a stage of rigorous operational effort, product leadership, and progress in the foundry business, his experience will provide crucial support to the management team.”

Barrett joined Intel’s board in November 2025. Prior to this, he held positions at companies such as Qualcomm and Google and served as CEO of Atheros Communications.

DBTech/BMT/OR