Intel’s Board of Directors has elected a new chairman, the company announced Tuesday. Andy Bryant will step down as chairman after the company’s stockholder meeting in May, and lead independent director Dr. Omar Ishrak will succeed him. Intel also elected a new board member.
Bryant had already said last year that he did not intend to stand for re-election in 2020. He said he would leave the role to facilitate an effective transition.
“It has been my great honor to serve as Intel chairman, and I plan to retire from the board in May with great optimism about Intel’s future,” Bryant said in a statement accompanying this week's announcement. “I have full confidence in Omar leading the board, which is fortunate to have his expertise at leading an innovative, global company.
Bryant became chairman in 2012. He soon had to deal with then-CEO Paul Otellini’s intentions to step down as CEO in 2013, as well as successor Brian Krzanich’s resignation in 2018. Earlier in his long career at Intel, Bryant was CFO.
“I want to thank and congratulate Andy for over seven years’ service as chairman of the board,” current Intel CEO Bob Swan said in a statement. “Andy has been a rudder for Intel during a time of change and transformation. He has led the board with integrity and always with Intel’s best interest in mind.”
Bryant's successor, Ishrak, is CEO of Medtronic and was elected to Intel’s board in 2017.
In addition, the board also elected Alyssa Henry as new member. She is currently sales lead at Square, a fast growing fin-tech company.
"Alyssa’s wealth of senior leadership, cloud computing and emerging technologies experience further strengthens Intel’s board," Bryant said.