In a candid letter included in Intel’s 2025 Proxy Statement, Chairman Frank Yeary acknowledged the company’s ongoing struggles, stating that “there are no quick fixes” as Intel works to recover from years of strategic missteps. Yeary’s message sets a sobering tone ahead of Intel’s annual shareholder meeting and marks a clear pivot toward long-term realism under new CEO Lip-Bu Tan, who replaced Pat Gelsinger in March after a stalled turnaround effort.
Yeary emphasized that while Intel has made progress—especially in areas like AI PCs and upcoming products on the Intel 18A process—consistent execution over time is essential. Shareholders approved a new $42 million stock incentive plan for Tan and re-elected most board members, though some proposals, including one on Intel’s operations in Israel, were rejected.
“We are at a critical moment in Intel’s history,” Yeary wrote. “We need to demonstrate consistent execution and deliver for our customers.”
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