Intel Corp. (Nasdaq: INTC) named a new head of a cornerstone business unit in CEO Pat Gelsinger’s revitalization plan for the company.
The chipmaker on Tuesday tapped Stuart Pann as senior vice president and general manager for Intel Foundry Services, reporting to Gelsinger.
Intel has been one of the largest employers in the Valley for decades, with more than 12,000 workers, but the company is in the midst of a $20 billion expansion in Chandler as it grows its presence with two new semiconductor chip factories. Those factories, on which Intel started construction in September 2021, will employ 3,000 more people once completed. They are expected to be operational by 2024 and will be the first in Intel’s system with a dedicated capacity just for the foundry business.
Pann came to Intel in 2021, according to his LinkedIn page, and had been senior vice president, chief business transformation officer and general manager of Intel’s Corporate Planning Group since last October.
“With deep expertise in capital and capacity strategies, supply chain management, and sales and operations planning across internal and external manufacturing, Stuart is an ideal leader to accelerate this momentum and drive long-term growth for IFS,” Gelsinger said in a statement.
A foundry makes chips for other semiconductor companies. Gelsinger has laid out a vision that has Intel competing with giants such as Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) — which is building a massive plant in north Phoenix — and Advanced Micro Devices Inc. (Nasdaq: AMD). in the space.
In addition to Arizona, Intel is making massive investment in Ohio as part of the foundry plan.
In his earlier role Pann established Intel’s IDM 2.0 Acceleration Office “to guide the implementation of an internal foundry model, fundamentally shifting the way the company operates to be more consistent with other top foundries,” Intel said.
Gelsinger has emphasized the importance of an “internal foundry model” that meshes its own manufacturing processes with the services it provides to others.
“As general manager of IFS, Pann will remain closely engaged with that work while representing the interests of IFS and its customers in tight partnership with Intel’s Technology Development and Manufacturing, Supply Chain and Operations organizations,” the company said.