Intel Appoints Seok‑Hee Lee as EVP of Intel Foundry Amid Manufacturing Push (INTC:NASDAQ)
Intel is making advanced packaging a dedicated business as Lee takes over system integration and back-end manufacturing.
- On Thursday, Intel appointed Seok-Hee Lee as executive vice president of Intel Foundry, reporting directly to Intel CEO Lip-Bu Tan to oversee advanced packaging and back-end manufacturing.
- Intel is establishing advanced packaging as a focused business unit, which Tan described as a "defining capability for next-generation computing systems" driving system-level integration.
- Executive Vice President Naga Chandrasekaran will focus on front-end technology and manufacturing, continuing to accelerate production of Intel's 18A and 14A process technologies.
- Shares of INTC surged 10.64% to $133.99 on Thursday following the announcement, as Lee said, "I'm excited to return home and to join the Intel team."
- Intel's Momentum score sits in the 99th percentile according to Benzinga Edge Stock Rankings, and the company hired former Samsung foundry executive Shawn Han in April to support manufacturing.
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Intel, a U.S. semiconductor company, has set out to strengthen its foundry (semiconductor contract manufacturing) competitiveness by recruiting Lee Suk-hee, former CEO of SK Hynix and SK On. Intel, which had been effectively pushed out of the market after falling behind TSMC and Samsung Electronics in the competition for advanced processes, is attempting a resurgence backed by the support of the U.S. government and Big Tech. Amidst this, analyst…
Lee Suk-hee, former CEO of SK Hynix and SK On, is joining Intel as a key executive. Amid accelerating technological competition among major nations in the era of artificial intelligence (AI), a professional manager from a leading Korean semiconductor company is joining a global big tech company.
Las Vegas Sun
Intel Announces Leadership Appointment at Intel Foundry to Accelerate Development and Manufacturing
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Intel taps industry veteran Seok-Hee Lee to lead foundry packaging push
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