- Intel Corp (NASDAQ:INTC) executive Randhir Thakur, who headed its push into the contract-manufacturing industry, is leaving the chipmaker, jeopardizing CEO Pat Gelsinger’s turnaround plan.
- Thakur “has decided to step down from his position to pursue opportunities outside the company,” Bloomberg reported citing an emailed statement.
- “He will stay on through the first quarter of 2023 to ensure a smooth transition to a new leader.”
- Also Read: US $52B Chip Funding For Intel, TSMC, Samsung Will Cost Them China Ambitions: Report
- After losing its role as the leader of the $580 billion chip industry, Intel has set out to become a so-called foundry, an area dominated by Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) and Samsung Electronics Co, Ltd (OTC: SSNLF).
- Thakur had sought to get Intel on that same track.
- The effort has included plans to build new plants in the U.S. and Europe to win chipmaking contracts from companies like Apple Inc (NASDAQ:AAPL) and Qualcomm Inc (NASDAQ:QCOM).
- Thakur will stay on until Intel completes its acquisition of Tower Semiconductor Ltd (NASDAQ:TSEM).
- Price Action: INTC shares traded higher by 1.21% at $29.29 on the last check Tuesday.
Sean Tresvant Promoted To Taco Bell Division CEO, Effective January 1, 2024; Succeeds Mark King Who Is Retiring
Tresvant Succeeds Mark King Who Is Retiring
Yum! Brands, Inc. (NYSE:YUM) today announced the promotion of Sean Tresvant to Taco Bell Division Chief Executive Officer, reporting to Yum! Brands Chief Executive Officer
