Intel Taps Engineer as New Chair
Intel has named Craig Barratt, an engineer, as its new board chair. The move is being seen as a strategic pivot away from financial oversight and toward an engineering-led turnaround as the company tries to reclaim its manufacturing edge against rivals.
The new chair, Craig Barratt, holds Ph.D. and Master of Science degrees in electrical engineering from Stanford University. His technical background stands in contrast to the outgoing chair, Frank D. Yeary, whose career was primarily in investment banking and finance, including as the Global Head of M&A at Citigroup. Barratt is no stranger to Intel, having previously served as a senior vice president for its ethernet, photonics, and networking businesses. He joined the company after Intel acquired Barefoot Networks, a startup he led as CEO. His experience extends across major tech players; he was a senior vice president at Google, where he led the Google Fiber project. Earlier in his career, he was the CEO of Atheros Communications, a wireless semiconductor company he guided through an IPO and its eventual $3.1 billion acquisition by Qualcomm. The transition is part of a broader "intentional refreshment" of Intel's board, which has seen four new independent directors appointed since 2024. The board's stated goal is to add skills and backgrounds that align with the company's future challenges and evolving strategy. This leadership change comes as Intel executes a multi-year turnaround plan aimed at restoring its "execution excellence" and re-establishing its innovation engine. Yeary, the outgoing chair, acknowledged his departure was timed with the company on "firmer footing" to pursue its strategy under CEO Lip-Bu Tan. Barratt's appointment is seen by some analysts as a welcome move to professionalize the board with deep semiconductor expertise, which will be critical as Intel focuses on its manufacturing technology to compete with rivals like TSMC. He currently also serves on the boards of Intuitive Surgical and Astera Labs.
