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Intel replaces chairman of the board of directors - the position was taken by Frank Yiri.
Almost exactly three years ago, Omar Ishrak, who had previously been an independent board member and led medical device manufacturer Medtronic for the previous nine years, was elected Chairman of the Board of Directors. This week it became known that Frank Yeary, who has extensive expertise in investment and financial consulting, will replace him as chairman of the board of directors.
As explained in a press release, Frank Yiri will take the position of independent chairman of the board of directors of Intel. The intentions of Omar Ishrak to leave this post became known last year. It was he who took an active part in the appointment of Intel CEO Patrick Gelsinger. The latter recognized the merits of Ishrak and expressed hope for further fruitful cooperation with him as one of the members of the board of directors, and also welcomed the appointment of Frank Yiri.
The new Independent Chairman of the Board of Directors of Intel himself said the following: “It is a great honor for me to take up this position at a watershed moment for Intel. Although the company faces challenges, I am convinced that we have chosen the right strategy. A prerequisite for our activities is the implementation of the planned and the return of investments to our shareholders.”
Frank Yiri has been a member of the Board of Directors since 2009, he is the head of the investment company Darwin Capital Advisors and co-founder of the consulting company CamberView Partners. Frank has 25 years of experience in the financial industry and M&A transactions. At the same time, Yiri remains a member of the board of directors of Mobileye, PayPal and a number of private companies.