Intel names Craig Barratt independent chair as Frank Yeary retires

Intel announced that Frank D. Yeary will retire from the company’s board and will not stand for reelection at its 2026 Annual Stockholders’ Meeting, and that Dr. Craig H. Barratt has been elected independent chair effective following the meeting on May 13, 2026. The company issued the announcement in a press release datelined Santa Clara, Calif., March 3, 2026.

Yeary has served as an Intel director since 2009 and has been board chair since 2023. The board will shrink from twelve directors to eleven at the conclusion of the Annual Meeting, a change the company noted in release materials. No statement from Yeary was provided in the materials supplied by the company.

Barratt joined Intel’s board as an independent director in November 2025 and brings what the company described as more than three decades of semiconductor and technology leadership. Business Wire identified Barratt as 63 years old and listed academic credentials that include bachelor’s degrees in electrical engineering and pure mathematics and physics from the University of Sydney and master’s and doctoral degrees in electrical engineering from Stanford University.

His résumé, as set out in Intel’s announcement and associated filings, includes leadership roles across Atheros Communications, Qualcomm, Barefoot Networks, Google and Intel. He served as chief executive officer of Atheros Communications, leading its IPO and subsequent acquisition by Qualcomm and continuing as President of Qualcomm Atheros. He was chief executive officer of Barefoot Networks and, after Intel acquired Barefoot, served as senior vice president of Intel’s ethernet, photonics and networking businesses. Barratt currently serves as lead independent director of Intuitive Surgical, Inc. and as a board member of Astera Labs, Inc., and sits on several private company boards.

Barratt framed his priorities for the role in Intel’s newsroom release, saying, "The company has taken significant steps to strengthen its financial position, advance its technology and product roadmap, and enhance operational discipline." He added, "The board thanks Frank for his leadership and for helping position Intel for this next phase. I’m honored to lead the board’s continued focus on supporting rigorous execution, investing in and scaling U.S.-anchored R&D and manufacturing, and ensuring Intel is well positioned to compete and win in the years ahead."

Intel CEO Lip-Bu Tan offered a public endorsement of Barratt in the Business Wire release, saying, "Craig is a highly accomplished technology leader with a proven ability to innovate, scale, and transform businesses. He is a seasoned semiconductor executive with experience at multiple leading-edge technology companies, which will be invaluable as we continue to execute our strategy and capitalize on our long-term growth opportunities."

Marketscreener recorded the market context for the announcement on March 3, 2026: Intel’s Nasdaq-listed shares closed intraday at $43.10, down 5.27%, and traded at $43.03 in after-hours trading, down a further 0.16%. Intel’s corporate address on the release was listed as 2200 Mission College Blvd., Santa Clara, CA 95054-1549.

The company distributed the announcement via Business Wire and its Intel Newsroom. The press materials included biographical detail, a company boilerplate identifying Intel as Nasdaq: INTC and multimedia assets. The supplied materials did not include compensation details, a direct statement from Yeary, or the text of any SEC Form 8-K or proxy materials; those filings and any additional board committee assignments were not part of the released excerpts.