Intel board chair Frank Yeary to depart after 17 years

Intel said on Tuesday that longstanding board Chair Frank Yeary plans to retire, the latest shakeup for the once dominant U.S. chipmaker as CEO Lip-Bu Tan seeks to refashion the company.

Current Intel board member and veteran chip executive Craig Barratt will succeed Yeary as chair after the company’s annual shareholder meeting in May. A year after Tan ‌came on board ⁠as CEO, ⁠Yeary’s departure is a significant shift for the board of the Santa Clara, California-based company. 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 that re-embraces manufacturing and reduces corporate complexity through middle-management job cuts.