Intel Names Omar Ishrak New Chairman

(RTTNews) - Intel Corp. (INTC) Tuesday announced that its Chairman Andy Bryant stepped down as chairman and the board elected lead independent director Omar Ishrak to succeed Bryant as an independent chairman, effective immediately.

Bryant had last year announced his intentions to step down in 2020. He had served as Intel's chairman since 2012.

Intel also announced that Alyssa Henry was elected to Intel's board. Her election marks the seventh new independent director added to Intel's board since the beginning of 2016.

"I want to thank and congratulate Andy for over seven years' service as chairman of the board," said Intel CEO Bob Swan. "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."

"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. "I have full confidence in Omar leading the board, which is fortunate to have his expertise at leading an innovative, global company. In addition, Alyssa's wealth of senior leadership, cloud computing and emerging technologies experience further strengthens Intel's board."