Intel Hires Former SK Hynix CEO Seok-Hee Lee To Lead Advanced Packaging Push As Apple Partnership Fuels Foundry Revival

Benzinga_recent_news06-19 10:22

Intel Corp. (NASDAQ:INTC) has appointed former SK Hynix and SK On chief executive Seok-Hee Lee as executive vice president of its contract chip-manufacturing business. In a statement, Intel said Lee ...

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(NASDAQ:INTC) has appointed former SK Hynix and SK On chief executive Seok-Hee Lee as executive vice president of its contract chip-manufacturing business.\nIn a statement, Intel said Lee will report directly to CEO Lip-Bu Tan and oversee advanced packaging, system integration, back-end technology development and back-end manufacturing.\n“Lee will lead all advanced packaging, system integration, back-end technology development and back-end manufacturing,” the company said.\nAs part of the restructuring, Intel said Executive Vice President Naga Chandrasekaran will concentrate on front-end technology development and manufacturing, with a focus on accelerating production of the company’s 18A, 14A and future process technologies.\nIn a post on LinkedIn, Lee said, “Intel Foundry has a significant opportunity ahead, and I look forward to partnering with Naga and the entire Intel Foundry leadership team.”\nThe move follows several recent foundry initiatives.\nIn April, Intel hired former Samsung (OTC:SSNLF) foundry executive Shawn Han to support its manufacturing efforts.\nNotably, in August, the U.S. government invested $8.9 billion in Intel, purchasing 433.3 million shares at $20.47 each and securing a 9.9% passive ownership stake under the CHIPS Act and Secure Enclave initiatives.\nPrice Action: Shares of INTC surged 10.64% to close at $133.99 on Thursday and edged up another 0.13% to $134.16 in after-hours trading, according to Benzinga Pro.\nAccording to Benzinga Edge Stock Rankings, Intel’s Momentum score sits in the 99th percentile, indicating strong price performance across short, medium and long-term periods.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto: Tada Images / Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"executive","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2644205531","isCrawlerRequest":true}