Intel’s chairman of more than seven years, Andy Bryant, has stepped down to temporarily take a regular board seat and serve as executive advisor to the company, according to an Intel announcement today. Replacing Bryant as chairman: Dr. Omar Ishrak, CEO and chairman of medical technology company Medtronic, first elected to the Intel board nearly three years ago.
Intel also said Alyssa Henry has been elected to company’s board, the seventh new independent director added to Intel’s board since the beginning of 2016, Intel said. Henry manages seller-facing software and financial services products for Square Inc., a provider of software, hardware and financial services for small businesses and individuals.
While Ishrak’s chairmanship is effective immediately, Intel said Bryant, 70, will remain on the board through Intel’s 2020 annual stockholders’ meeting in May. “He had previously notified the board in March 2019 that he did not intend to stand for re-election at this year’s meeting,” Intel said.
“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.”
“I have full confidence in Omar leading the board, which is fortunate to have his expertise at leading an innovative, global company,” Bryant said. “In addition, Alyssa’s wealth of senior leadership, cloud computing and emerging technologies experience further strengthens Intel’s board.”
Before joining Medtronic, Ishrak was at General Electric for 16 years, ending his tenure there as president and CEO of GE Healthcare Systems. He is on the board of trustees of the Asia Society, which promotes mutual understanding between Asia and the United States.
Bryant has been with Intel since 1981 and served, among other roles, as CFO and SVP, later becoming chief financial and enterprise services officer. In 2007, he was named chief administrative officer and was named a director and vice chairman of Intel’s board in 2011. He began serving as chairman starting in 2012.