Intel Chairman Andy Bryant said Monday he plans to remain on the company’s board until next year and then step down. Bryant’s term on the board had been set to end this spring, but Intel had left open the possibility he would continue serving.
Bryant, 68, joined Intel in 1981. He served as chief financial officer from 1994 until 2007, when he became chief administrative officer. Intel named him chairman of its board in 2012.
The most senior member of Intel’s Oregon leadership for 25 years, Bryant has helped steer Intel through a series of momentous transitions — most recently away from its dependence on the PC and toward a more diversified business that’s increasingly reliant on data centers for its sales and profits.
Bryant, Intel’s first chairman from Oregon, thrives with mild manners and tough questions
Bryant weathered the company’s tempestuous culture and cut through the testosterone-fueled bluster around him.
His time as chairman has been tumultuous, though, beginning with the unexpected retirement of former Chief Executive Paul Otellini in 2013 to the sudden ouster of Otellini’s successor, Brian Krzanich, in the summer. Krzanich quit after Intel’s board uncovered what it called “a past consensual relationship with an Intel employee” in violation of company policy.
After Krzanich’s exit, Bryant led a seven-month search for a new CEO. Intel considered candidates inside and outside the company before promoting CFO Bob Swan, who had been serving as interim CEO.
Bryant said Monday he will continue on the board to assist with the executive transition.
“If re-elected by the stockholders at our annual meeting in May, I look forward to continuing to work with Bob, the board and the entire executive team to continue Intel’s historic transformation to a data-centric company,” Bryant said in a written statement. “I expect this would be my last year of service as a member of Intel’s board.”
Intel valued Bryant’s compensation at nearly $4.1 million in 2017, the most recent year for which it has reported compensation data. About half of his pay came in stock awards.