Former Intel board members are demanding the ousting of CEO Lip-Bu Tan and propose a significant restructuring to spin off Intel's manufacturing unit. They assert the need for change due to Intel's declining competitiveness, as indicated by the company having four CEOs in seven years with minimal improvements. Their plan emphasizes the importance of the Foundry business for both national security and market competitiveness, arguing that this separation would enhance Intel’s position against competitors like Nvidia and TSMC, while also addressing critical issues in semiconductor production for the U.S.
The former directors demanded the ouster of CEO Lip-Bu Tan and called for a radical restructuring that would spin off Intel's manufacturing arm into an independent company.
They argued that only a dramatic break could restore Intel's competitiveness, noting the company is on its fourth CEO in seven years with little improvement.
Intel was long the leader in chips but has fallen behind Nvidia, TSMC and other players in recent years, highlighting the need for significant change.
The group argued that splitting the manufacturing entity from the rest of Intel would directly address market competitiveness and the nation's strategic need for advanced semiconductors.
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