Key takeaways
- Restructure leadership team to align with CEO Lip-Bu Tan's turnaround strategy.
- Appoint three new engineering vice presidents to enhance consumer-centric focus.
- CEO Tan emphasizes the importance of new leaders in shaping Intel's future.
- Leadership change follows significant stock decline under previous CEO Pat Gelsinger.
- New VPs hail from diverse backgrounds but none are based in Oregon.
Intel on Wednesday announced the appointment of three vice presidents to strengthen the leadership and align with the company's goal of building a consumer-centric engineering powerhouse.
Greg Ernst, Intel’s newly appointed chief revenue officer, has been with the company since 2005 and has led the company’s US marketing since 2018. Srinivasan Iyengar, Jean-Didier Allegrucci and Shailendra Desai have been appointed as engineering vice presidents.
Lip-Bu Tan, CEO of Intel, said, “Greg, Srini, J-D and Shailendra are highly accomplished leaders with strong reputations across our ecosystem, and will each play important roles as we position our business for the future.”
Lip-Bu Tan was appointed in March after Pat Gelsinger's departure. Under Gelsinger's three-year tenure, the company's stock had declined by over 50%. The split between the foundry and design business had emerged as a contentious issue, which served as a catalyst for a leadership change.
Iyengar comes from Cadence Design Systems, Tan’s former workplace, where he led global silicon engineering. Allegrucci, prior to being appointed as VP of AI system on Chip (SoC), contributed to AI silicon engineering at both Rain AI and Apple. Desai, as VP of AI fabric and networking, will be leading the development of innovative SoC architectures for Intel’s AI GPUs.
Interestingly, none of the VPs are based out of Oregon, Intel’s largest site.
Meanwhile, the company’s top researchers, Ann Kelleher and Sanjay Natarajan, announced their retirement this month.
Intel, reeling from a nearly $19 billion loss and a $821 million Q1 deficit, is set to cut 15–20% of its foundry workforce starting mid‑July, with no severance or voluntary buyouts; layoffs will be based on performance and strategic fit.
Layoffs will focus on factory, support, and mid‑management roles, particularly in Oregon, while sparing core engineering teams, as CEO Lip‑Bu Tan continues a major restructuring amid stiff PC/server demand and AI‑chip competition
