Intel adds two semiconductor veterans to board as CEO search continues

Intel has appointed Eric Meurice and Steve Sanghi to its board of directors following the resignation of CEO Pat Gelsinger. Both are experienced leaders in the semiconductor industry, with Meurice previously serving as CEO of ASML and Sanghi as interim CEO of Microchip Technology. The new board members aim to enhance Intel's expertise as the company seeks to recover from recent financial struggles, including a 1% and 6% drop in revenue over the last two quarters. The search for a new CEO is ongoing. Meurice and Sanghi's appointments come after the departure of Lip-Bu Tan in August. Their experience is expected to support Intel's transformation efforts amid increasing competition in the semiconductor market.