The day after Trump called Intel's chief ‘conflicted,' former directors call for a new company, a new board and a new CEO [Fortune]
Intel Corporation (INTC)
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Source: Fortune
In a rare collective statement provided exclusively to Fortune , the former directors demanded the ouster of CEO Lip-Bu Tan and called for a radical restructuring that would spin off Intel's manufacturing arm into an independent company to secure America's chipmaking dominance. Noting that this matter should rightly be decided by Intel's current board and its shareholders, the group— Charlene Barshefsky Reed Hundt James Plummer , and David Yoffie ,—pointed out that the company is on its fourth CEO in seven years with little improvement in results. They argued that only a dramatic break could restore Intel's competitiveness, and they argued for special treatment for Intel's “Foundry” business, the manufacturing assets from which Intel produces semiconductor chips for its own products and for third-party customers. These advanced chip fabrication facilities are increasingly top of mind for President Donald Trump, his Chinese counterpart Xi Jinping, and the entire tech industry watc
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