Three Intel Senior Executives Retire Amid Manufacturing Restructuring

Intel announced the retirement of three senior executives—Kaizad Mistry, Ryan Russell, and Gary Patton—as part of sweeping leadership changes under new CEO Lip-Bu Tan aimed at restructuring and cutting costs within the company. Mistry and Russell served as corporate vice presidents in the Technology Development Group, while Patton led the Design Technology Platform organization and was responsible for design enablement engineering efforts. These departures coincide with a broader internal reorganization, including reductions in the manufacturing capacity planning and engineering teams, led by manufacturing head Naga Chandrasekaran. Intel is also implementing significant workforce cuts, targeting a reduction to approximately 75,000 employees by year-end, about 22% fewer than last year, and has closed its automotive chip business, laying off 20% of factory workers. The company is pledging a more disciplined approach to capital expenditures, notably linking investment in its next-generation 14A chip process to customer demand. These changes reflect Intel's efforts to regain competitiveness amid rising market challenges and delays in major chip manufacturing projects.