Intel Board Elects New Director and Extends Andy Bryant's Term as Chairman till 2019

[btarunr]

Intel Corporation today announced that Risa Lavizzo-Mourey was elected to Intel's board of directors. Her election marks the fifth new independent director added to Intel's board since the beginning of 2016. The board also voted unanimously to extend Andy Bryant's term as Intel chairman in order to ensure board continuity and a smooth integration for new directors. Bryant became Intel chairman in May 2012 and will stand for re-election at the company's 2018 annual stockholders' meeting. If elected, he will continue to serve as chairman until the conclusion of the company's 2019 annual stockholders' meeting.

"Risa knows how to lead a large organization tackling complex issues, and brings extensive public-company board experience. I look forward to her fresh insights and perspective," said Intel Chairman Andy Bryant. "We've worked to make sure the board has the right skills and backgrounds to be strong stewards in our dynamic industry. I'm honored to continue serving alongside them, as Intel transforms to create more value for our customers and our owners."



Dr. Lavizzo-Mourey has served as the Robert Wood Johnson Foundation PIK Professor of Population Health and Health Equity at the University of Pennsylvania since January 2018. From 2003 to 2017, she was the president and chief executive officer of the Robert Wood Johnson Foundation, the largest U.S. philanthropy organization dedicated to health. Dr. Lavizzo-Mourey is a member of the boards of directors of General Electric Co. and Hess Corp., and she previously served as a director at Genworth Financial Inc. and Beckman Coulter Inc.

She is also a member of the National Academy of Medicine, the board of regents of the Smithsonian Institution, and the board of fellows of Harvard Medical School. Dr. Lavizzo-Mourey holds an MBA from the University of Pennsylvania and an M.D. from Harvard Medical School.

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[RejZoR]

Unless Intel is planning on heavily venturing into medical equipment segment, who here feels this was more of a "diversity hire" than experience, really? Entire tech industry is so obsessed with this nonsense these days...

 

[claes]

Unless Intel is planning on heavily venturing into medical equipment segment, who here feels this was more of a "diversity hire" than experience, really? Entire tech industry is so obsessed with this nonsense these days...

#NotRacist

 

[lemonadesoda]

Yes, she ticks a lot of diversity boxes. She can be counted multiple ways - so quite an "efficient hire", one for the "statistics"!

The problem with overpromoting to tick boxes is that the people are not (necessarily) the best individuals for the role. Remember, the role isn't just the seat, salary and image, but the whole team underneath and the dynamics of leverage and cooperation and communication across the company. An inappropriately hired or (accelerated-) promoted person, never mind whether male, female, green, blue, whatever, looks good as image-on-the-surface but if there is a whole gulf of skewed employee profiles underneath, then the natural opportunity, experience and promotion pipeline remains skewed, and a person without the right skills to manage this skewed employee profile will fail, doesnt keep the job, and the overall corporate experience is negative.

That all sounds a bit complicated and wordy, but if you catch my drift, it is something I have seen many times. Window dressing. Notice in the photo she is standing by a window with a "culturally colourful" artwork by her side. It all SAYS... "I TICK THE IMAGE BOX".

Looking at her experience, I just don't see the fit with Intel's core business, not design, not technology, not engineering, no core markets, no production, logistics, or quality assurance skills. They will have to "make up a role" for her and "make a seat" where she can be successful. QED.

 

[ironcerealbox]

This type of position requires the following insurance from it (the board of directors ensures the following, in simplistic terms):

- defining a code or set of values that promote integrity for all employees (this may be a "policies and procedures" type of thing)
- ensure adequate processes for identification and correction of grievances (these grievances could be from unethical practices, non-updated policies, bias, etc.)
- prepare and adopt a corporate strategy for a mission or vision
- a system of internal control
- meetings for important transactions or matters (there must be a recorded resolution at each meeting)
- form committees as needed for specific or technical tasks (such as evaluation committees, budget committees, etc.)

She has a long history (albeit, in the medical sector)
- 14 years as President-CEO of Robert Wood Johnson Foundation
- director of Institute of Aging at University of Pennsylvania as well as chief of the geriatric medicine division
- professor
- associate chief of staff for geriatrics and extended care for the Philadelphia VA Medical Center
- deputy administrator of the Agency for Healthcare Policy and Research in the U.S. Department of Health and Human Services
- served on several advisory committees for the U.S. Federal Government
- appointed a member of the Smithsonian's Board of Regents in 2014

I don't necessarily think this was a "diversity hire" (as someone else has plainly mentioned here on the forum) as it was more of a "self-reflection, change, and move-on" type of hire. I think Intel was looking for an established person with a lot of experience in top positions involving leadership and direction.