Intel Names Frank Yeary As Board Chair After Omar Ishrak Steps Down

Intel Corp INTC appointed Frank D. Yeary as the new independent chair of its board. Yeary succeeded Dr. Omar Ishrak, who stepped down as chair.
Ishrak did not disclose any reason for stepping down. Meanwhile, Ishrak will remain on Intel's board as an independent director.
Also Read: Intel's Ambitions To Compete With Taiwan Semiconductor, Samsung Suffers Jolt After Losing Foundry Head
Yeary has served as a director of Intel since 2009.
Ishrak joined Intel's board in March 2017 and was named chair of the board in January 2020.
CEO Pat Gelsinger implemented an ambitious plan to return the chipmaker to the forefront of the $580 billion industry.
In December, Intel reportedly split its graphics-chip organization to grab market share from Nvidia Corp NVDA and Advanced Micro Devices Inc AMD.
Price Action: INTC shares closed higher by 3.59% at $30.27 on Monday.