Intel May Ask Strategy Executive Safroadu Yeboah-Amankwah to Exit

• Intel's Chief Strategy Officer, Safroadu Yeboah-Amankwah, will exit on June 30 amid major layoffs.
• Following restructuring, strategy duties shift to Sachin Katti; Intel Capital now reports directly to CEO Tan.

AlsoSafroadu Yeboah-Amankwah, Intel's top strategy executive, is reportedly leaving the company. This is the latest leadership change since Lip-Bu Tan took over the US chipmaker in March. This exit follows Intel's recent announcement of layoffs. According to Reuters, Yeboah-Amankwah, Intel's chief strategy officer since 2020, will step down on June 30. The publication cited two sources familiar with the situation who spoke anonymously to report the development. His responsibilities at Intel included overseeing growth initiatives, strategic partnerships, and equity investments.

"We are grateful for Saf's contributions to Intel and wish him the best," the company stated.

According to Reuters, Sachin Katti, Intel's recently promoted chief technology and AI officer, will take over some of Yeboah-Amankwah's strategic functions.Furthermore, two sources told Reuters that Intel Capital, the company's venture arm, will now report directly to Lip-Bu Tan.

Also Read: Intel Appoints New CEO to Drive Chipmaker's Turnaround Efforts

Intel layoffs will begin in the coming weeks

Last week, Intel reportedly announced the dates for upcoming layoffs, confirming that they would begin on July 5. According to CRN, the company is starting the layoffs with 107 employees from its headquarters in Santa Clara, California.

The move was part of a larger cost-cutting and restructuring initiative launched by CEO Lip-Bu Tan in April of this year to help boost the company's performance.

According to the report, Intel filed a notice under California's Worker Adjustment and Retraining Notification Act (WARN). The company stated in the filing that affected employees would receive either a 60-day notice or a four-week notice with nine weeks of pay and benefits.

An Intel spokesperson stated "As we announced earlier this year, we are taking steps to become a leaner, faster, and more efficient company. Removing organizational complexity and empowering our engineers will allow us to better serve our customers and improve our execution."