Latest news with #Yeary
Hindustan Times
3 days ago
- Business
- Hindustan Times
Intel's CEO, Under Attack From Trump, Is Already at Odds With His Board
Intel Chief Executive Lip-Bu Tan was already at odds with some board members before President Trump jumped into the fray. Tan and some Intel directors have disagreed in his first months in the role about questions as central as whether the company should stay in the manufacturing business or exit it entirely, according to people familiar with the matter. Recent efforts by Tan to raise new capital and acquire an artificial-intelligence company have been stalled by people on the board, they said. On Thursday, the internal tensions were heightened when Trump unexpectedly called for Tan's ouster, claiming he is 'conflicted' by business ties to China. Intel so far is standing by Tan. The company issued a statement Thursday that said the company, the board and Tan are all 'deeply committed to advancing U.S. national and economic security interests and making significant investments aligned with the President's America First agenda.' Intel reigned for decades as the world's most valuable semiconductor company, but its failure to foresee the rise of AI helped cut its market value in half since the beginning of last year. The day Intel named Tan CEO in March, the company's shares rose over 13%. Tan, a former Intel director, had pulled off a turnaround at Cadence Design Systems during a long run helming the software company. The honeymoon period didn't last long. Almost immediately, Tan and Intel board chairman Frank Yeary disagreed about whether Intel should remain in the business of making chips for itself and its clients or exit manufacturing, the people said. The segment that includes Intel's chip factories, which last year supplied around a third of Intel's revenue, has been a money loser. But some view it as politically important because it helps secure the U.S.'s semiconductor supply chain. Yeary, a former investment banker, had drawn up a plan for Intel to exit from the foundry business entirely earlier this year when acting as interim executive chair. Yeary's proposal involved spinning out the business and having other companies such as Nvidia and Amazon take stakes in it, the people said. Yeary also explored brokering a sale of the business to Taiwan's TSMC, the people said, but that effort went nowhere. Tan, on the other hand, has argued that Intel's foundry business is integral to its success and needed to ensure the U.S. doesn't become reliant on foreign semiconductor companies such as TSMC and Samsung, the people said. (While TSMC and Samsung have committed to building more plants in the U.S., critics say their research and development efforts are still centralized elsewhere.) More recently, Intel had lined up a handful of Wall Street investment banks to facilitate a multibillion-dollar capital raise, with the aim of using the money to invest in its fabrication plants and bolster the company's balance sheet, the people said. Management hoped to kick off the efforts around the company's most recent quarterly earnings report in late July. But some board members, including Yeary, wanted to move on a slower timeline than Tan and pushed it back, possibly to 2026, the people said. Intel had also been exploring a potential acquisition of an AI business, the people said. Proponents of the deal, including Tan, saw it as an opportunity for the company to catch up to rivals such as Nvidia and AMD, which are much further ahead in AI. But the board took its time deliberating the potential deal, and another publicly traded technology company appears poised to buy the target instead, the people said. Intel has also recently pursued strategic partnerships that fizzled out, the people added. Tan feels his hands have been tied by the board to fix the company, the people said. Intel is buying time by reining in spending. It announced a 15% cut to its workforce with earnings last month and scrapped plans to spend tens of billions of dollars on new chip facilities in Europe. Intel also said it would further slow the pace of construction on an Ohio project. 'There are no more blank checks,' Tan wrote in a recent memo to staff. 'Every investment must make economic sense.' In Trump's crosshairs Trump's attack on Tan took him and the company by surprise after he had recently been making inroads with the administration. Intel was a big winner in former President Joe Biden's CHIPS Act, which doled out billions in grants to help strengthen the U.S.'s semiconductor capabilities. But Trump has instead focused on tariffs to incentivize domestic manufacturing and Commerce Secretary Howard Lutnick has said Trump is reworking some of the CHIPS Act deals. Tan had a roughly hourlong meeting with Lutnick in April to discuss his plans to turn the company around, one of the people familiar with the matter said. The two recently spoke again by phone and had discussed meeting again later this month. Lutnick had indicated to the CEO that the administration would support Intel if it had realistic plans to land big customers such as Apple, the person said. Then Trump on Thursday morning posted that Tan needed to resign because he is 'highly conflicted' and 'there is no other solution to this problem.' His concerns appear to be tied to a recent development involving Cadence Design, the company Tan led until 2021, and his venture-capital firm's investments in Chinese companies. Cadence last week agreed to plead guilty and pay more than $140 million to resolve Justice Department charges for selling its chip-design products to a Chinese military university. U.S. Sen. Tom Cotton (R., Ark.) had earlier this week sent a letter to Yeary, the Intel board chair, questioning him about Tan's ties to Chinese firms. Sen. Bernie Moreno of Ohio, where Intel has delayed plans to build new facilities, joined in Thursday, calling for Tan to resign. Intel said in its statement Thursday that it looked forward to 'continued engagement' with the administration. Another challenge for Tan is the fact that his predecessor, Pat Gelsinger, had been forging a relationship with Vice President JD Vance before he stepped down, a person familiar with the matter said. Gelsinger departed from Intel right as Trump and Vance won the 2024 election, three months after Tan abruptly exited the Intel board over disagreements with how Gelsinger and other board members were running the business, according to people familiar with the matter. One former Intel board member believes Gelsinger's relationship with Vance could have given Intel a valuable line to the White House to turn around its fortunes. Write to Lauren Thomas at
Mint
4 days ago
- Business
- Mint
Intel's CEO, under attack from Trump, is already at odds with his board
Intel Chief Executive Lip-Bu Tan was already at odds with some board members before President Trump jumped into the fray. Tan and some Intel directors have disagreed in his first months in the role about questions as central as whether the company should stay in the manufacturing business or exit it entirely, according to people familiar with the matter. Recent efforts by Tan to raise new capital and acquire an artificial-intelligence company have been stalled by people on the board, they said. On Thursday, the internal tensions were heightened when Trump unexpectedly called for Tan's ouster, claiming he is 'conflicted" by business ties to China. Intel so far is standing by Tan. The company issued a statement Thursday that said the company, the board and Tan are all 'deeply committed to advancing U.S. national and economic security interests and making significant investments aligned with the President's America First agenda." Intel reigned for decades as the world's most valuable semiconductor company, but its failure to foresee the rise of AI helped cut its market value in half since the beginning of last year. The day Intel named Tan CEO in March, the company's shares rose over 13%. Tan, a former Intel director, had pulled off a turnaround at Cadence Design Systems during a long run helming the software company. The honeymoon period didn't last long. Almost immediately, Tan and Intel board chairman Frank Yeary disagreed about whether Intel should remain in the business of making chips for itself and its clients or exit manufacturing, the people said. The segment that includes Intel's chip factories, which last year supplied around a third of Intel's revenue, has been a money loser. But some view it as politically important because it helps secure the U.S.'s semiconductor supply chain. Yeary, a former investment banker, had drawn up a plan for Intel to exit from the foundry business entirely earlier this year when acting as interim executive chair. Yeary's proposal involved spinning out the business and having other companies such as Nvidia and Amazon take stakes in it, the people said. Yeary also explored brokering a sale of the business to Taiwan's TSMC, the people said, but that effort went nowhere. Tan, on the other hand, has argued that Intel's foundry business is integral to its success and needed to ensure the U.S. doesn't become reliant on foreign semiconductor companies such as TSMC and Samsung, the people said. (While TSMC and Samsung have committed to building more plants in the U.S., critics say their research and development efforts are still centralized elsewhere.) More recently, Intel had lined up a handful of Wall Street investment banks to facilitate a multibillion-dollar capital raise, with the aim of using the money to invest in its fabrication plants and bolster the company's balance sheet, the people said. Management hoped to kick off the efforts around the company's most recent quarterly earnings report in late July. But some board members, including Yeary, wanted to move on a slower timeline than Tan and pushed it back, possibly to 2026, the people said. Intel had also been exploring a potential acquisition of an AI business, the people said. Proponents of the deal, including Tan, saw it as an opportunity for the company to catch up to rivals such as Nvidia and AMD, which are much further ahead in AI. But the board took its time deliberating the potential deal, and another publicly traded technology company appears poised to buy the target instead, the people said. Intel has also recently pursued strategic partnerships that fizzled out, the people added. Tan feels his hands have been tied by the board to fix the company, the people said. Intel is buying time by reining in spending. It announced a 15% cut to its workforce with earnings last month and scrapped plans to spend tens of billions of dollars on new chip facilities in Europe. Intel also said it would further slow the pace of construction on an Ohio project. 'There are no more blank checks," Tan wrote in a recent memo to staff. 'Every investment must make economic sense." Trump's attack on Tan took him and the company by surprise after he had recently been making inroads with the administration. Intel was a big winner in former President Joe Biden's CHIPS Act, which doled out billions in grants to help strengthen the U.S.'s semiconductor capabilities. But Trump has instead focused on tariffs to incentivize domestic manufacturing and Commerce Secretary Howard Lutnick has said Trump is reworking some of the CHIPS Act deals. Tan had a roughly hourlong meeting with Lutnick in April to discuss his plans to turn the company around, one of the people familiar with the matter said. The two recently spoke again by phone and had discussed meeting again later this month. Lutnick had indicated to the CEO that the administration would support Intel if it had realistic plans to land big customers such as Apple, the person said. Then Trump on Thursday morning posted that Tan needed to resign because he is 'highly conflicted" and 'there is no other solution to this problem." His concerns appear to be tied to a recent development involving Cadence Design, the company Tan led until 2021, and his venture-capital firm's investments in Chinese companies. Cadence last week agreed to plead guilty and pay more than $140 million to resolve Justice Department charges for selling its chip-design products to a Chinese military university. U.S. Sen. Tom Cotton (R., Ark.) had earlier this week sent a letter to Yeary, the Intel board chair, questioning him about Tan's ties to Chinese firms. Sen. Bernie Moreno of Ohio, where Intel has delayed plans to build new facilities, joined in Thursday, calling for Tan to resign. Intel said in its statement Thursday that it looked forward to 'continued engagement" with the administration. Another challenge for Tan is the fact that his predecessor, Pat Gelsinger, had been forging a relationship with Vice President JD Vance before he stepped down, a person familiar with the matter said. Gelsinger departed from Intel right as Trump and Vance won the 2024 election, three months after Tan abruptly exited the Intel board over disagreements with how Gelsinger and other board members were running the business, according to people familiar with the matter. One former Intel board member believes Gelsinger's relationship with Vance could have given Intel a valuable line to the White House to turn around its fortunes. Write to Lauren Thomas at
Cision Canada
4 days ago
- Business
- Cision Canada
Award-Winning Songwriter & Storytelling Expert Jimmy Yeary to Deliver Keynote at McLean & Company's Signature 2025 HR Conference in Houston
McLean & Company, a global research and advisory firm, has announced award-winning Nashville songwriter and storytelling expert Jimmy Yeary as a keynote speaker for Signature 2025, its flagship HR conference taking place November 2-4 at the Marriott Marquis in Houston. Drawing on 30 years in Nashville and 14 Billboard No. 1 hits, Yeary translates the craft of hit songwriting into a practical storytelling playbook for leaders, complete with live performances. Recognized as one of the most engaging speakers in the country, Yeary offers HR leaders a unique approach to building trust, enhancing communication, and driving cultural impact through narrative. His session complements Signature's research-backed agenda focused on AI readiness, workforce transformation, and navigating change and uncertainty, giving attendees actionable tools to strengthen trust, communication, and culture across their organizations. TORONTO, Aug. 7, 2025 /CNW/ - McLean & Company has announced Jimmy Yeary, acclaimed Nashville songwriter and storytelling expert, as a keynote speaker at Signature 2025, the firm's flagship HR conference taking place November 2-4, 2025, at the Marriott Marquis in Houston, Texas. Yeary, who is known for his dynamic, powerful narratives and live musical performances, will join an agenda carefully crafted to equip HR leaders with research-backed strategies, real-world tools, and collaborative learning experiences that drive action in turbulent times. With more than 30 years in Nashville, Jimmy Yeary has penned over 2,000 songs, 14 of which have reached Billboard No. 1, including CMA/ACM Song of the Year winner I Drive Your Truck, Tim McGraw's I Called Mama, and Kenny Chesney's Everything's Gonna Be Alright. Recognized as one of the most engaging speakers in the country, Yeary translates his songwriting expertise into frameworks that help leaders tell their stories with clarity, trust, and impact. "We are excited to add Jimmy Yeary to the Signature 2025 stage," says Jennifer Rozon, president of McLean & Company. "Signature 2025 is purpose-built for HR leaders facing unprecedented complexity. Grounded in our latest research, the agenda delivers practical, people-first solutions that empower attendees to lead with both clarity and compassion in times of continuous change. Jimmy's ability to tell stories and build meaningful connections will bring a powerful human perspective to the conversations our attendees are eager to have." In his keynote, "The Techniques of Storytelling," Yeary will explore how stories shape our ability to lead, communicate, and create lasting trust within teams and organizations. Drawing from his personal journey and creative process, he'll walk attendees through the essential elements of compelling storytelling and demonstrate how leaders can use their own experiences to influence others, sell ideas, and build culture. He'll also introduce the concept of "story readiness" to equip HR professionals with strategies to respond to everyday interactions and deliver value to their employees. Yeary's session at McLean & Company's Signature 2025 HR conference will include live performances of some of his hit songs, each paired with lessons in vulnerability, connection, and leadership. Signature 2025 is designed to help HR leaders navigate complexity and build people-first strategies that unlock resilience, agility, and innovation. The conference will feature two days of interactive keynote sessions, hands-on workshops, peer roundtables, and CHRO panels – all grounded in McLean & Company's latest research – under the theme "Human Centric. Future Ready." This year's conference will offer a focused space to explore topics such as AI integration, workforce transformation, organizational design, and effective leadership development. Yeary's keynote will complement these themes by addressing the emotional and human side of change – how connection and authenticity can be powerful tools for transformation. By integrating Yeary's storytelling framework with McLean & Company's evidence-based content, Signature 2025 delivers an engaging, transformational experience where attendees leave with not only insights but also tools they can immediately apply to shape culture, influence teams, and tell more effective stories as HR leaders. Jimmy Yeary's keynote accompanies other headline sessions like Crystal Washington's "Futureproof Yourself," Dessalen Wood's exploration of balancing humanity and automation, and Karen Smith's case study on a large-scale HR transformation. All the planned Signature 2025 keynote sessions contribute to a cohesive arc of leadership learning and future-ready strategy. For more information or to register for tickets, please visit the official Signature event page. For media inquiries or to connect with McLean & Company analysts for exclusive, research-backed insights, or an in-depth look into Signature 2025, please contact Communications Manager Katie Tame at [email protected]. Exhibitor Opportunities HR software providers, service firms, and solution vendors are invited to apply to be an exhibitor at Signature 2025. This premier event offers the opportunity to connect with senior HR decision-makers, share innovations, and contribute to conversations shaping the future of work. Learn more and apply to exhibit via the Exhibitor Opportunities section on the Signature event page. About Marriott Marquis Houston McLean Signature 2025 will take place at the Marriott Marquis Houston, a world-class hotel in the heart of downtown Houston. Known for its state-of-the-art conference spaces and renowned hospitality, the venue offers the perfect setting for HR leaders to engage, learn, and connect in a dynamic and inspiring environment. About McLean & Company McLean & Company pairs evidence-based research and immediately applicable tools with deep HR expertise to position organizations to meet today's needs and prepare for the future. The global HR research and advisory firm's member organizations enjoy comprehensive resources, full-service diagnostics, workshops, action plans, and advisory services for all levels of HR professionals, from executive leadership to HR leaders to HR team members, that help shape workplaces where everyone thrives. McLean & Company is a division of Info-Tech Research Group. Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].
Indianapolis Star
30-05-2025
- Sport
- Indianapolis Star
Kayla Pickering, 'gritty' Avon stun Brownsburg in sectional final. 'We never gave up.'
BROWNSBURG — Kayla Pickering stepped into the batter's box knowing she was going to win it. Avon had fought like crazy to get within reach of rival Brownsburg, scoring four runs in the sixth to pull within two, then escaping a bases-loaded jam in the seventh unscathed to reclaim momentum entering the final stanza. Olivia Yeary ripped a one-out single to score Reagan Cooper and advanced on the throw to set up Pickering, the team's No. 8 hitter, with runners on second and third. When she peered in from the third-base box, Kiah Ferrell could see in the junior's eyes that she was ready. She felt good, the Orioles coach said. "And when your kids are confident in themselves, that's a great feeling to have as a coach. All that preparation has paid off." Pickering fouled off the first pitch, then with the second, she rifled a sharply hit grounder through the left side of the infield. Ferrell initially motioned to hold Yeary at third, but when the ball was misplayed in the outfield, she frantically waved her home. Players began pouring from the Avon dugout as Yeary crossed home plate, mobbing her before enshrouding Pickering halfway down the third-base line. "My heart was beating on second, but I had so much faith in Kayla. Just so much," Yeary said. "I knew she was going to smack that ball into a gap." Avon wins the Class 4A Sectional 11 championship game, 10-9, its fifth consecutive sectional crown and 14th overall. The Orioles will host Center Grove in Tuesday's regional championship. "We have a lot of grit, a lot of trust in each other," Yeary said. "A lot of heart for the game, a lot of passion," added pitcher Addie Forst. "Grit" was the word of the night on the Avon side, an apt descriptor of a team that's gone 8-4 following a 3-13 start to the year. They were an inexperienced outfit staring down the barrel of a grueling Hoosier Crossroads Conference schedule entering the season, Ferrell said, and knew they were going to take their lumps. But in her heart of hearts, she knew this was going to be a second-half team. And that's when "things finally started to click," Ferrell continued. They started to hit. They played better defense behind their pitcher. And they had harder practices. "We were intentional and we focused more on the mental game," she said. "And I think it finally paid off, which is really nice." Avon's latest victory was keyed by its ability to minimize damage. Forst surrendered five runs through the first four innings, but allowed only one run and stranded the bases loaded in the top of the fourth. Her efforts were rewarded in the bottom half, with Yeary launching a three-run home run to make it 5-3. When the Bulldogs answered with four runs over the next two innings, the Orioles answered with a four-run sixth, tallying runs on a wild pitch, a two-RBI double by Lilly Heath and a Zoey Chavez base hit. "We never gave up," Pickering said. "The game doesn't know," Yeary interjected. "They threw punches," Pickering continued. "We threw them back." Amidst the rally, Ferrell looked to the dugout and asked Forst if she was ready to pitch the seventh. I'm ready for the opportunity, she replied. The first two runners reached, then Brownsburg loaded the bases with a two-out walk, but Forst buckled down and got a pop out to end the inning and hold the margin at two. "That girl likes to do that to herself," Ferrell laughed. "We've tried and tried and tried to talk about being more efficient and not getting into sticky situations, but she finds a way to get out of it. Grit is a good word to describe her." Avon advances to face Center Grove in Tuesday's regional. The Trojans won the regular-season meeting, 10-9, on May 12. "We're not done yet," Ferrell said. "And I think it's really cool that, whatever the expectation is, we like to be the underdog and we like to have our backs against the wall. We're gritty."
