It’s no news to anyone that Intel is not going through a good time, whether in terms of problems seen in its hardware recently or due to financial losses – which led to the dismissal of more than 15,000 employees and caused the manufacturer’s shares to go into free fall.
Executive Lip-Bu Tan, a member of the company’s board of directors, has decided to step down, leading to a further drop in the company’s market value. Since announcing his departure, the company’s shares have fallen by 6.1%.
I am grateful for the opportunity to serve on Intel’s board of directors. This is a personal decision based on the need to re-prioritize several commitments. I continue to support the company and its important work.
Lip-Bu Tan
Lip-Bu Tan is a well-known executive in the tech industry, having served as one of Intel’s top executives for the past two years. His departure, at such a delicate time in the company’s operations, indicates that things may not be going well and he may not be the only one – even though he said it was a “personal decision”.
Before offering his services to Intel, he was known for having been the CEO and current executive chairman of Cadence – a supplier of electronic design for automation tools and intellectual properties.
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Intel’s Board of Executives
In addition to Lip-Bu Tan, Intel’s board of directors includes eleven other executives – led by Chairman Frank D. Yeary (whose career is focused on the financial industry).
Of these, two have degrees in electrical and computer engineering – with experience in semiconductor manufacturing; one worked in the PC industry and two of them (Pat Gelsinger and Stacy Smith) are executives at Intel itself. All the others do not have a background in the semiconductor and electronics industry.
Intel remains
From July to early August, Intel saw its stock drop by 30% – erasing approximately $39 billion in market capitalization in just a few days.
From the $130.86 billion seen on July 31, its value today is $88.43 billion – slowly approaching half of the value it had just a few months ago.
Intel recently canceled its Innovation event – where we would have likely learned more about its Arrow Lake-S desktop processors. However, it appears that its plans to launch Lunar Lake chips for notebooks in September have been maintained.
Source: Tom’s Hardware
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Source: https://www.adrenaline.com.br/intel/executivo-da-intel-deixa-diretoria-e-acoes-caem-em-6-porcento/
