Exclusive-Intel’s top strategy officer to depart this month

Audio By Carbonatix

Enlarge

By Jeffrey Dastin, Stephen Nellis and Max A. Cherney

(Reuters) -Intel’s top strategy executive, Safroadu Yeboah-Amankwah, is departing the company, the latest change since Lip-Bu Tan took the chipmaker’s helm in March, two people familiar with the matter told Reuters.

Intel confirmed the departure, saying, “We are grateful for Saf’s contributions to Intel and wish him the best.”

Yeboah-Amankwah, who has served as Intel’s chief strategy officer since 2020, is leaving on June 30, said the two people, who spoke on condition of anonymity. Yeboah-Amankwah has overseen growth initiatives, strategic partnerships and equity investments for Intel, among other responsibilities.

Some of Yeboah-Amankwah’s strategy functions will now fall to Sachin Katti, whom Intel recently elevated to chief technology and AI officer. Intel Capital, the company’s venture arm, is reporting up to Tan, said one of the two people and a third source briefed on the matter.

Tan is a prolific investor and founded San Francisco-based venture capital firm Walden International in 1987.

As Intel’s CEO, Tan so far has flattened the semiconductor giant’s leadership team and taken direct oversight of its important data center and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders.

He has also aimed to cut what he viewed as Intel’s bloated, slow-moving middle-management layer.

Tan’s moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips. His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel’s problems, Reuters previously reported.

Intel reported an annual net loss attributable to the company – its first since 1986 – of $18.8 billion in 2024.

(Reporting by Jeffrey Dastin, Stephen Nellis and Max Cherney; Editing by Leslie Adler)