Returning to Intel’s board of directors is Stacy Smith, a veteran of the company where he formerly served as Chief Financial Officer (CFO). Smith bid farewell to Intel in 2018 to take up the position of Executive Chairman of the Board at Kioxia, a Japanese memory producer born out of Toshiba’s business restructuring.
Smith, who boasts almost a three-decade-run at Intel, including serving as the company’s CFO from 2007 to 2016, will provide his competence and critical analysis to Intel’s Audit and Financial Committee. As indicated by Intel’s official statement, his wealth of experience within the corporation and in assessing financial parameters are both invaluable aids during Intel’s challenging transformation period.
The corporation is at a substantial juncture, making heavy investments to expand manufacturing capabilities and to master new tech processes, all of which have an impact on profit margins and introduces new risks. By the close of this decade, Intel aspires to stand as one of the world’s largest contract chip manufacturers.
Stacy Smith’s reentry is well-received by Patrick Gelsinger, Intel’s current CEO, who has worked alongside Smith in the past. Gelsinger is known for his tendency to involve company veterans in the management of the business, and Smith’s return can be seen as a fitting instance of this approach.
