A major shakeup has happened under Intel’s roof — the silicon giant’s hardware chief Dr. Venkata Murthy Renduchintala will be stepping out of the company on August 3.
According to Reuters, Renduchintala’s departure is part of a major reorganization. Intel is restructuring the Technology, Systems Architecture, and Client Group (TSCG), which Renduchintala headed. The group is now split into five new teams, and their leaders will directly report to the CEO Bob Swan.
Intel has announced that senior Intel engineer Dr. Ann Kelleher will now lead the development of its 7nm and 5nm chip designs.
The news comes days after Intel delayed the launch of its 7nm CPUs, which are now expected to arrive in 2022. The company suffered the consequences in the stock market as well as its market value plunged by almost $40 billion. Intel even had to suggest contingency plans for outsourcing the development of its chips, possibly including the upcoming Ponte Vecchio GPUs.
Intel, which once had the most advanced chip-making technology and was years ahead of its competitors, is now struggling to keep pace with change. Renduchintala joined Intel in 2015 as an experienced outside talent to boost its design efforts under the tenure of ex-CEO Brian Krzanich.
His arrival invited more hirings from outside; however, the move was contrary to the company’s old tradition of promoting talent from inside and motivated several longtime senior employees to quit.
Intel also faced another blow in 2020 as one of its biggest customers, Apple, announced plans to use home-made ARM-based processors in Mac computers.