[News] Chip Industry Shakeup: Wolfspeed, Intel, and STMicroelectronics Undergo Leadership Changes

In recent weeks, several major tech companies have announced leadership transitions and organizational changes as they navigate evolving market demands and strategic realignments. Below are some of the latest developments:

Wolfspeed Appoints New CEO

According to ijiwei, citing Reuters, Wolfspeed has appointed industry veteran Robert Feurle as its new CEO. He will succeed Thomas Werner on May 1, 2025, while Werner will return to his previous role as chairman of the board.

Robert Feurle spent a decade in executive roles at Micron Technology, as the report notes. He previously held positions at the European semiconductor company ams-OSRAM and also served as general manager at Infineon.

As mentioned in the report, the board of directors dismissed former CEO Gregg Lowe without cause in November 2024.

Wolfspeed has been restructuring its operations—including the closure of certain facilities in 2024—in an effort to improve profitability amid slowing demand from the automotive, industrial, and energy markets, as the report highlights.

In addition, the company aims to capitalize on the growing demand for chips made with silicon carbide technology. As noted by the report, Wolfspeed has strengthened its commitment to its 200-millimeter silicon carbide fab, with the goal of improving both efficiency and production capacity.

Three Intel Board Members to Step Down in Chip-Focused Reshuffle

Intel is also undergoing a leadership shakeup. According to another Reuters report, three members of Intel’s (INTC) board will not seek reelection at the company’s 2025 annual meeting, as it navigates a significant transition under newly appointed CEO Lip-Bu Tan.

This move will reduce the board’s size to 11 members. As noted in the report, Intel has been restructuring its board since late last year to better align with its strategic focus on the chip industry.

The report also notes that in December, Intel strengthened its board by appointing Eric Meurice, former CEO of chip equipment maker ASML, and Steve Sanghi, interim CEO of Microchip Technology.

As highlighted by the report, CEO Lip-Bu Tan stated in a letter to shareholders on Thursday that he is “equally focused” on the company’s product development and its foundry business.

The company is also expected to carry out cost-saving plans aimed at reducing operating expenses. These efforts, according to the report, build on the strategy introduced last year under former CEO Pat Gelsinger, which included a 15% workforce reduction.

Italy Reported to Nominate Economy Ministry Official to STMicroelectronics Board

As reported by Reuters, sources indicate that Italy plans to appoint Marcello Sala—head of the economy ministry department overseeing state-owned enterprises and asset disposals—as a member of the supervisory board at semiconductor manufacturer STMicroelectronics.

The report suggests that the Italian government is seeking closer examination of STMicroelectronics’ workforce reduction plans, which are part of a $300 million cost-cutting initiative. Italian labor unions have warned that more than 2,000 jobs could be at risk in the country.

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(Photo credit: Wolfspeed)