As it loses ground compared to other manufacturers due to production delays, Intel decided to do a complete restructuring of the Technology, Systems Architecture and Client (TSCG) department. On the way out is Chief Engineering Officer Murthy Renduchintala, the processor specialist responsible for the vast majority of the company's hardware since 2015.
In a statement, Bob Swan, president of the American manufacturer, explains that the department will be divided into five new sections, each led by a different executive.
The objective of the change is to accelerate the development of new technologies, and to focus on the production of 7 nanometer semiconductors, a project that has been repeatedly postponed.
In charge of supervising the production of the chips, whose arrival is scheduled for 2022, is Ann Kelleherm who now becomes responsible for the Technological Development section of the TSCG.
Murthy Renduchintala's departure marks a particularly busy period for Intel. After presenting the financial report for the second half of 2020, the company revealed that its plans to remain at the forefront of innovation have failed.
During the presentation of the financial results, Bob Swan admitted that Intel is considering outsourcing the process of manufacturing the processors, said Bloomberg. The disclosure caused a 16% drop in the company's share on the stock exchange. In all, it is estimated that it has lost 40 billion dollars in market capitalization.