Intel Welcomes Eric Meurice and Steve Sanghi to Board of Directors

Intel has welcomed Eric Meurice and Steve Sanghi to the board of directors.

Takeaway Points

• Intel welcomes Eric Meurice and Steve Sanghi to the board of directors.
• Both will serve as independent directors.
• Sanghi is chair of the board of Microchip Technology and recently agreed to serve as interim chief executive officer and president. He formerly led Microchip Technology as CEO from 1991 to 2021.
• Meurice served as president and chief executive officer of ASML from 2004 to 2013. During his tenure, ASML’s market value increased five-fold.
• Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives.

Who did Intel welcome?

Intel Corporation on Thursday announced that it has appointed Eric Meurice, former president, chief executive officer, and chairman of ASML Holding N.V., and Steve Sanghi, chairman and interim chief executive officer of Microchip Technology Inc., to Intel’s board of directors, effective immediately. Both will serve as independent directors.

Frank D. Yeary, interim executive chair of the Intel board, commented, “Eric and Steve are highly respected leaders in the semiconductor industry whose deep technical expertise, executive experience and operational rigor make them great additions to the Intel board. As successful CEOs with proven track records of creating shareholder value, they will bring valuable perspectives to the board as the company delivers on its priorities for customers in Intel Products and Intel Foundry, while driving greater efficiency and improving profitability.”

Steve Sanghi, chairman and interim chief executive officer of Microchip Technology Inc., said, “I am excited to lend my experience and perspective as Intel executes one of the most consequential corporate transformations in decades. Intel is well-positioned to capitalize on attractive opportunities across its product and foundry businesses, and I’m eager to work with the board and management team to deliver on the goals the company has set.”

The History of the Newly Appointed

According to Intel, Sanghi is chair of the board of Microchip Technology and recently agreed to serve as interim chief executive officer and president. He formerly led Microchip Technology as CEO from 1991 to 2021, making him one of the longest-serving CEOs of a semiconductor company. Under his leadership, Microchip Technology achieved 121 consecutive quarters of profitability. He took the company from a market value of approximately $10 million to a market value of approximately $44 billion over his tenure of 30 years. 

Meurice served as president and chief executive officer of ASML from 2004 to 2013. During his tenure, ASML’s market value increased five-fold. He was also instrumental in establishing ASML’s Customer Co-Investment Program, under which Intel and others agreed to invest in ASML’s research and development of next-generation lithography technologies, including extreme ultraviolet (EUV) lithography, the company said.

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge, and every kind of computing device, we unleash the potential of data to transform business and society for the better.