Aug 2 - As new CEO Pat Gelsinger pushes for sweeping changes, Intel announced three top executives in its wafer manufacturing business will retire, drawing industry attention.
Intel told employees Tuesday that Kaizad Mistry and Ryan Russell, corporate vice presidents in technology development, and Gary Patton (a former IBM executive), corporate vice president of design technology platforms, will retire.
Two sources told Reuters that Intel is also discussing adjustments to its technology development unit (which handles manufacturing process development), planning to downsize manufacturing capacity planning teams and cut some engineering groups. Intel has not commented.
Intel's manufacturing operations are led by former Micron executive Naga Chandrasekaran (hired last year by then-CEO Pat Gelsinger). Since March, when Chandrasekaran took over technology development and manufacturing, he has restructured teams, including layoffs as part of global cuts.
Last week, during quarterly earnings, CEO Gelsinger (who took office in March) set a goal to reduce staff to 75,000 by year-end and pledged stricter investment in chip manufacturing.
Intel said its next-gen Intel 14A process may be paused or terminated without new external clients. The Intel 18A process, it added, will only generate reasonable returns if used for internal products.
Intel's leadership shifts and strategy tweaks could reshape its foundry business. ICgoodFind tracks developments.
