Finance
Intel board chair frank yeary to depart
Published by Global Banking & Finance Review®
Posted on March 3, 2026
3 min readLast updated: March 3, 2026
Quick Summary
Intel board chair Frank Yeary, who has served since 2009 and overseen four CEO transitions, will retire after the company’s annual meeting in May. He will be succeeded by Intel board member Craig Barratt, a veteran executive with leadership roles at Qualcomm and Alphabet’s Google.
Intel board chair Frank Yeary to depart after 17 years
Leadership Changes and Strategic Shifts at Intel
By Max A. Cherney
Frank Yeary's Retirement Announcement
SAN FRANCISCO, March 3 (Reuters) - Intel said on Tuesday that board chair Frank Yeary plans to retire following the company's annual meeting in May and will be replaced by Craig Barratt.
Recent Board Shakeups and CEO Transitions
Impact of Lip-Bu Tan's Appointment as CEO
A year after Lip-Bu Tan came on board as CEO, Yeary's departure is a major shakeup for the struggling U.S. chipmaker's board. Last year, three board members announced their retirement several weeks after Tan took the helm. Since becoming CEO, Tan has implemented a plan to turn around the company.
Frank Yeary's Tenure and Board Leadership
Yeary served on the board since 2009 and was chair since 2023. He has presided over four CEO transitions during his tenure and has dealt with the decline of Intel's manufacturing and the rise of Taiwanese rival Taiwan Semiconductor Manufacturing Co.
Board Dynamics Prior to Tan's CEO Role
Prior to Tan's installment as CEO, he served on the Intel board with Yeary until Tan left due to differences over the company's turnaround plans.
Statements and Future Leadership
Frank Yeary's Statement on Company Progress
In a statement, Yeary praised the company's progress on reviving its manufacturing technology and noted that he and the board selected Tan last year.
Craig Barratt's Appointment as Incoming Chair
The incoming chair, Barratt, joined the Intel board in 2025 and has experience working at Qualcomm, and at Alphabet's Google. Intel previously had a CEO named Craig Barrett.
Strategic Initiatives and External Pressures
Restructuring and Workforce Reductions
Since his appointment as CEO, Tan has made big changes to Intel. Last year, he discussed a plan to lay off roughly 15% of its workforce to reduce its total headcount to 75,000 and has attempted to reshape the company's strategy to tackle artificial intelligence.
Political Attention and Government Negotiations
Interactions with U.S. President Donald Trump
Over the summer, Tan drew the attention of U.S. President Donald Trump, who called for his resignation over conflicts of interest. Tan has since charmed the American president, whose administration negotiated for a 10% stake in the company instead of providing money awarded under the CHIPS Act.
(Reporting by Max A. Cherney and Stephen Nellis in San Francisco; Additional reporting by Manya Saini in Bengaluru; Editing by Matthew Lewis)
Key Takeaways
- •Frank Yeary’s retirement marks the end of a 17‑year tenure, during which he guided the board through multiple leadership changes and helped steer the company during turbulent times.
- •Craig Barratt, joining as board chair, brings deep industry experience—from leading Atheros through a Qualcomm acquisition to executive roles at Barefoot Networks (Intel acquisition) and in Google’s Access and Energy division (en.wikipedia.org).
- •This board leadership transition comes amid ongoing efforts to revive Intel under CEO Lip‑Bu Tan, who took the helm in March 2025 following significant strategic and financial upheaval (newsroom.intel.com)
References
Frequently Asked Questions about Intel board chair Frank Yeary to depart
1Who is retiring from Intel's board?
Frank Yeary, the board chair of Intel, is retiring following the company's annual meeting in May.
2Who will replace Frank Yeary as Intel board chair?
Craig Barratt will replace Frank Yeary as the new board chair of Intel.
3When will Frank Yeary step down from Intel's board?
Frank Yeary plans to retire after Intel's annual meeting in May.
4How long has Frank Yeary served on Intel's board?
Frank Yeary has served on Intel's board since 2009.
5What experience does Craig Barratt bring to Intel's board?
Craig Barratt has experience working at Qualcomm and Alphabet's Google.
