Intel ousts products chief in major leadership reset
What's the story
Intel has removed its Chief Executive Officer of Products, Michelle Johnston Holthaus, as part of a major executive shakeup. The decision comes as new CEO Lip-Bu Tan seeks to reshape the company and flatten its leadership structure. Since joining in March this year, Tan has overseen mass layoffs and made significant changes to Intel's operations.
Career highlights
Holthaus's 30-year journey at Intel
Holthaus's departure ends a 30-year career at Intel, including a brief stint as co-CEO after Pat Gelsinger's sudden exit in 2024. Tan praised Holthaus for her transformative work and high-performing teams during her time at the company. He also announced that she would continue to serve as an advisor but her position wouldn't be filled by anyone else.
Strategic changes
New appointments under Tan's leadership
Intel has appointed several new executives as part of the ongoing restructuring. Srinivasan Iyengar, who joined from Cadence Design Systems in June, will head a new Central Engineering Group focused on custom silicon for external clients. Kevork Kechichian, formerly of ARM, will lead Intel's data center group while Jim Johnson has been appointed senior vice president and general manager of Intel's client computing group.
Controversial deal
Intel's foundry business revival amid government investment
Intel's foundry business has struggled in recent years, but it has been revived by US government investment and Tan's leadership. Under the Trump administration's revised funding structure, Intel will have to give the government a 10% stake in exchange for faster funding under the CHIPS Act. The deal also includes a penalty clause if Intel's ownership of its foundry unit falls below 50%.