Intel has made significant changes to its executive leadership by hiring three new vice presidents and promoting an existing executive. This restructuring comes just ahead of anticipated mass layoffs, set to start next month, as the company faces ongoing challenges.
Newly appointed CEO Lip-Bu Tan, who took the helm in March, has yet to unveil a detailed strategy for turning around the struggling chip manufacturer. Nevertheless, the recent appointments signal his intent to stamp his authority on the company’s leadership team.
Among the promotions, Greg Ernst has been elevated to Chief Revenue Officer, a role he has approached with a decade of experience at Intel, where he oversaw U.S. marketing since 2018. The new vice presidents hired in engineering—Srinivasan Iyengar, Jean-Didier Allegrucci, and Shailendra Desai—bring valuable expertise, particularly in the area of artificial intelligence, where Intel is seeking to strengthen its position. Iyengar joins after a tenure at Cadence Design Systems, while Allegrucci and Desai are expected to play pivotal roles in shaping the company’s AI strategy.
As part of a broader reconfiguration, two prominent researchers from Intel’s Oregon operations have recently announced their retirements. Ann Kelleher, who led technology development, officially retired this month, followed by Sanjay Natarajan, who headed technology research in Intel’s manufacturing segment.
With Intel grappling with a remarkable $19 billion loss last year and a reduction of 15,000 jobs, the company is preparing for further cuts. Notifications to factory employees and researchers indicate a potential reduction of up to 20% of their ranks starting in July. Although specific numbers for additional job cuts in other areas remain unspecified, it is clear that the company is focusing on restructuring efforts.
This timely reshuffle in leadership might serve as a fresh start for Intel, offering hope to stakeholders as it aims to navigate its challenges and explore new opportunities within the AI market.