Intel’s new CEO Lip-Bu Tan is moving swiftly to reshape the chipmaker’s strategy. In a move that underscores his aggressive realignment of the company’s priorities, Intel has decided to shut down its ...

Intel is committed to having the right mix of "skills, qualifications, and technical expertise" on its board of directors, board chair Frank Yeary wrote in a letter to shareholders.

Intel is committed to having the right mix of "skills, qualifications, and technical expertise" on its board of directors, board chair Frank Yeary wrote in a letter to shareholders.

"We are committed to having the right mix of skills, qualifications and technical expertise on the Board," Intel chairperson Frank Yeary said in the filing.

Intel (INTC) said on Thursday that three members of its board of directors would be stepping down. Read for more.

Intel Chairman Frank Yeary thanked them for their service and contributions to the board. The changes come as Intel continues to strengthen its leadership team with semiconductor expertise.

"We are committed to having the right mix of skills, qualifications and technical expertise on the Board," Chairperson Frank Yeary said in the filing on Thursday.

Investors had expected an imminent breakup and were encouraged by reports of strategies being pursued by Intel interim Chairman Frank Yeary, including discussions with the Trump administration.

Intel on Wednesday announced a new CEO, Lip-Bu Tan, will be taking the helm of the chipmaker. He is slated to assume the top job at Intel on Tuesday.

Intel’s previous CEO, Pat Gelsinger, abruptly retired last year amid a deepening downturn that triggered massive layoffs.