[News] Intel Names Former ASML and Microchip CEOs to Board Amid Ongoing CEO Search

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Amid the search for a new CEO following Pat Gelsinger’s retirement, Intel announced on December 5 the appointment of Eric Meurice, former president, CEO, and chairman of Dutch chipmaking equipment giant ASML, and Steve Sanghi, chairman and interim CEO of Microchip, to its board of directors.

Regarding the appointment, a report from Tom’s Hardware notes that as Intel expanded its product portfolio, it began appointing people from outside the semiconductor industry. This shift led to a board with several members who had limited expertise in microelectronics. The addition of Meurice and Sanghi brings significant semiconductor industry experience back to Intel’s leadership, as highlighted by the report from Tom’s Hardware.

Intel’s appointment of new directors with strong semiconductor backgrounds aligns with the focus of its CEO search. According to a Reuters report, interim co-CEO David Zinsner stated on Wednesday that Intel’s next chief executive will possess both manufacturing expertise and experience in the product side of the business.

The press release from Intel highlights that both Meurice and Sanghi have prior experience at Intel and are expected to bring extensive technical expertise to the board as new independent directors.

According to its press release, Eric Meurice served as president and CEO of ASML from 2004 to 2013, during which time he oversaw a fivefold increase in the company’s market value.

Furthermore, Intel’s press release indicates that he played a pivotal role in initiating ASML’s Customer Co-Investment Program, through which Intel, Samsung, and TSMC supported ASML’s development of EUV technology, as the report from Tom’s Hardware indicates. This program significantly accelerated the research and development of next-generation lithography technologies, which are now essential for advanced chip manufacturing processes, as the report from Tom’s Hardware notes.

Aside from ASML, Meurice also held roles at Thomson’s TV division, Dell, ITT Semiconductors, and Intel, as its press release notes.

Steve Sanghi, the other newly appointed director, is currently chairman of the board of Microchip and recently assumed the role of interim CEO and president of Microchip. Sanghi previously led Microchip as CEO from 1991 to 2021, making him one of the longest-tenured CEOs in the semiconductor industry, as highlighted in Intel’s press release. Before joining Microchip, Sanghi served as vice president of Operations at Waferscale Integration and held various management positions at Intel

Notably, Intel’s press release mentions that under Sanghi’s leadership, Microchip achieved 121 consecutive quarters of profitability and saw its market value grow from approximately USD 10 million to USD 44 billion over three decades.

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(Photo credit: Intel)