Intel appoints former ASML exec Meurice, Microchip chair Sanghi to its board
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Intel (NASDAQ:INTC) said it has appointed former executive of ASML, Eric Meurice, and interim CEO of Microchip, Steve Sanghi, to its board.
The appointments are effective immediately, and both will serve as independent directors.
The news come a couple of days after the company said its CEO Pat Gelsinger is retiring and will be replaced by co-CEOs David Zinsner and Michelle Johnston Holthaus.
Media reports suggested Gelsinger was forced out at Intel (INTC) after the board lost confidence.
Meurice had served as president and CEO of ASML (ASML) from 2004 to 2013, while Sanghi is the chair of the board of Microchip Technology.
Santa Clara, Calif.-based Intel has come under intense scrutiny in recent memory as the company struggles to keep up with competitors AMD (AMD) and Nvidia (NVDA) in the artificial intelligence space and has had several hiccups with its nascent foundry business, designed to compete with Taiwan Semiconductor (TSM).
Shares in the company were up 1.5% in premarket trade.