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Intel adds Indian American chip industry veteran as board member
A Punjab University alumnus, Sanghi chairs Microchip's board and serves as Interim CEO.
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Representative Image / Reuters/LinkedIn
Intel on Dec.5 named two chip industry veterans to its board, including Indian American Steve Sanghi, interim CEO of Microchip Technology. Eric Meurice, former CEO of chipmaking equipment provider ASML was the other addition.
The move comes as the struggling semiconductor firm looks for a new top boss following the recent ouster of Pat Gelsinger and tries to reclaim its lost glory. Both Meurice and Sanghi have previously worked at Intel.
A Punjab University alumnus, Sanghi chairs Microchip's board and was its CEO from 1991 to 2021, before returning as interim chief executive in November as the chipmaker grappled with a slowdown in demand from automotive customers. He was at Intel between 1978 and 1988, according to his LinkedIn page.
Intel has struggled to keep up with advanced chipmaking, falling well behind rivals such as Nvidia in designing chips that power AI and TSMC in making smaller and more efficient semiconductors.
Gelsinger, whose removal as CEO was announced on Dec. 2, was tasked to restore Intel's lead in chipmaking, but his costly bet on contract manufacturing has seen the company shrink to a market value more than 30 times smaller than Nvidia.
Intel has started evaluating a handful of outsiders, including former board member Lip-Bu Tan, for the role of CEO, Reuters reported on Dec. 3.
The company's next CEO will have manufacturing expertise as well as experience in the product side of the business, interim co-CEO and CFO David Zinsner said earlier this week.
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