Intel Corp said on Monday Chairman Omar Ishrak had stepped down and the chipmaker appointed board director Frank Yeary as his replacement.
Omar Ishrak, CEO of Medtronic, speaks during an IBM keynote address at the 2016 CES trade show in Las Vegas, Nevada, January 6, 2016. REUTERS/Steve Marcussaid on Monday Chairman Omar Ishrak had stepped down and the chipmaker appointed board director Frank Yeary as his replacement.
"He was instrumental in bringing me back to the company as CEO and has fostered a high-impact working dynamic across the board and management team," Intel chief Pat Gelsinger said.to drive change at the company, which is restructuring its business to catch up with competition. As a result, the U.S. chipmaker has been ramping up investments to make chip factories across the United States and Europe.
"While the company certainly has big tasks ahead of it, I'm confident we have the right strategy in place," Yeary said.
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