Intel Corporation’s board of directors elected Dr. Craig H. Barratt as the new independent chair. The appointment becomes effective following the annual stockholders' meeting on May 13, 2026. Dr. Barratt succeeds Frank D. Yeary, who has served as chair since 2023 and is retiring from the board.
The leadership transition occurs during a multi-year strategic effort to reinvent the company and restore execution excellence. Outgoing chair Yeary characterized the current phase as one of the most consequential periods in Intel's history.
The announcement arrived alongside a broader market downturn that saw Intel's stock price decline. Market reports attributed the share drop to weaker financial guidance for Q1 2026, rising competition, and geopolitical tensions rather than the board leadership change.