Stacy Smith, a veteran of the semiconductor industry, has been appointed with immediate effect to Intel's board of directors. Smith, who commands three decades of experience in varied leadership roles at Intel, will also join the board's Audit and Finance Committee.
The announcement came from Intel on March 14, 2024, revealing that Smith, currently serving as the executive chairman of Kioxia Corporation, previously Toshiba Memory Corporation, and chairman of Autodesk Inc., would hold the position of an independent director at Intel besides his role in the committee.
Frank D. Yeary, the chairman of the Intel board, spoke highly of Smith's appointment, citing his vast experience in the semiconductor industry and its financial aspects. "Stacy's deep understanding of the semiconductor industry, along with Intel's history and strategy, will be a significant asset to the board as it guides the company's transformation journey," Yeary expressed. He further adds, "Stacy's expertise in finance and leading capital allocation strategies in the capital-intensive semiconductor industry will be additive to Intel's board as the company continues its efforts to create a globally resilient semiconductor supply chain."
Smith, 61, boasts an illustrious career at Intel, holding several leadership roles over a span of nearly 30 years. Before retiring in 2018, he was the group president of manufacturing, operations and sales. He steered the global Technology and Manufacturing Group and the worldwide sales organization. Earlier, he wore the hat of the chief financial officer, chief information officer, and the general manager of Intel Europe, Middle East and Africa (EMEA), thus handling Intel's sales and marketing in the EMEA region.
Upon his appointment, Smith spoke about his enthusiasm on rejoining Intel. "I am excited to be joining the Intel board at this pivotal moment as the company accelerates its IDM 2.0 strategy to win in its core markets, grow in emerging compute markets and become one of the world's leading foundries," Smith states. He voiced his honor to contribute to "one of the most significant transformations in the semiconductor industry" as Intel strives to regain its iconic global tech stature.
Smith's impressive credentials go beyond his wide-ranging experience in the semiconductor industry, and encompass operations and manufacturing, and sales and marketing expertise. He also brings to Intel considerable public company board experience, having served as the executive chairman of Kioxia since 2018, chairman of the board at Autodesk since 2011, and being on the board of Wolfspeed since 2023. His board experience stretches back to Virgin America (2014 to 2016) and Gevo Inc. (2010 to 2014).
Smith is also a holder of an MBA in finance from the University of Texas. His vast and varied experience, in-depth knowledge of the semiconductor industry, board experience, and academic qualifications make him well-suited to guide Intel through its ongoing transformation process.
