Intel elects Omar Ishrak of Bangladeshi origin as new Board Chairman.
- A Monitor Report01 Feb, 2020 | 211 Views|-+
Dhaka : Intel's board elected a new Chairman, Omar Ishrak of Bangladeshi origin, with immediate effect, announced the American tech giant on January 21.
Omar Ishrak, who had grown up in Bangladesh, joined the California-based company's board as an Independent Director in March 2017. Usually, board chairpersons serve a maximum of two to three years.
Ishrak comes at a time when the chip maker is trying to resolve supply shortages and protect its dominant market position from growing competition by rival Advanced Micro Devices Inc.
Intel has been facing some pressure and lagged behind its peers in recent times. Shares of Intel rose 29 per cent over the past 12 months while the semiconductor ETF, SMH, jumped 66 per cent in the same time period.
He is simultaneously serving as the Chairman and Chief Executive Officer of Medtronic, a medical technology company headquartered in the US, since June 2011.