Craig Barratt will succeed Frank Yeary as chairman of the Intel Board of Directors
Barratt is a long-time semiconductor executive and entrepreneur who will bring more than three decades of experience to the role.
Intel announced that following the company’s Annual Shareholders’ Meeting in May of this year, Dr. Craig Barratt will replace Frank Yeary as independent chairman of its Board of Directors. Yeary has been on the board for 17 years and will not seek re-election in 2026.
Having joined the board as an independent director in 2025, Barrett brings more than three decades of leadership experience across the semiconductor and technology industries from companies such as Qualcomm, Intel and Google. He was previously CEO of Atheros Communications, where he led the company through a successful IPO and subsequent acquisition by Qualcomm.
He also served as senior vice president of Intel’s ethernet, graphics and networking businesses, joining the company following its acquisition of Barefoot Networks. He currently serves on the boards of Intuitive Surgical and Astera Labs.
Four new independent directors have been appointed to Intel’s board from 2024. The organization explained that the renewed vision is consistent with plans to add directors with the skills and knowledge to create opportunities, navigate challenges and support Intel’s development strategy and the long-term interests of shareholders.
Lip-Bu Tan, CEO of Intel, thanked Yeary for his strong leadership over the years and his strong commitment to his role as chairman during “one of the most important times in Intel’s history”.
He said, “Frank led the effort to bring me in as CEO of the company, he encouraged proper board oversight, and he strengthened the board’s strong governance.
“With his and the board’s support, I have been empowered to take critical steps to strengthen our financial foundation, improve our process roadmap and position the company to compete for the long term. His leadership has helped guide Intel through a period of transition and a strong focus on the next phase.”
Yeary added, “Reinventing Intel is a rigorous, multi-year effort to restore efficiency, strengthen the financial base and reinvent the engine of innovation that has long defined the company. I am grateful to have been a part of the board’s work, especially over the past 18 months, which has marked an important step in that journey.”
Commenting on Barratt’s appointment, Tan said, “Craig brings extensive semiconductor experience and a strong track record of technical and operational leadership in complex, engineering-driven businesses.
“As we enter our next phase, focused on disciplined execution, product leadership and fundamental progress, his experience will be invaluable in supporting management and driving long-term shareholder value.”
At the end of February, Intel Foundry’s senior vice president and general manager Kevin O’Buckley announced that he is leaving the company to join Qualcomm, where he will be in charge of the company’s semiconductor operations. In his new role, O’Buckley will report directly to Qualcomm senior vice president, CFO and COO Akash Pallkhiwala.
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