Lip-Bu Tan, a seasoned figure in the high-tech industry, has stepped down from Intel's board of directors after two years of service, according to the company's filing with the U.S. Securities and Exchange Commission. His departure, effective immediately, comes at a critical time for Intel as the company faces financial difficulties and implements major organizational changes that involve laying off some 15,000 or more employees.
"I am grateful for the opportunity to serve on the Intel Board of Directors," said Lip-Bu Tan after informing Intel about his decision on Monday. "This is a personal decision based on a need to reprioritize various commitments and I remain supportive of the company and its important work."
