The knives are coming out and that is a sign that shareholders are about to take out the current Board.
https://www.fabricatedknowledge.com/p/the-death-of-intel-when-boards-fail
4 replies (most recent on top)
The board failed with BK and with Pat. A bit before that, but the worst started with BK. There were vastly better options.
Many on this board were there the ex-CFO burned money on shares buyback and super dividends payout, instead to invest to recover on technology leadership. They'd be all fired.
Also, half of them have not needed experience in semiconductor. I see that recently two new board members were announced, confirming the point.
Lastly, you don't fire a CEO without having a new one at hand. They didn't have any backup strategy (one of their major job).
Please get out
No one even remotely qualified else wanted the job.
It isn't a Board capable of attracting the best candidates and I suspect they will continue to waffle and weasel along till the stock gets a lot closer to $10, at which point an activist shareholder will replace the Board and get serious about breaking up the company.
The problem is, even at this late stage, the level of delusion is remarkably high. This is because it is not in upper mgmt interest to see something that does not work in their favor.
Not the first company to resist the inevitable.
Pat was not the best candidate at the time. He was the best of the pure Intel blood available. The know-nothing board picked him with a handsome package for the superficial hope that the guy from the glorious days of Intel could logically save Intel.