By Arsheeya Bajwa

Dec 5 (Reuters) - Intel ( INTC ) on Thursday named two

chip industry veterans to its board, as the struggling

semiconductor firm looks for a new top boss following the recent

ouster of Pat Gelsinger and tries to reclaim its lost glory.

The chipmaker said Eric Meurice, former CEO of

chipmaking equipment provider ASML, and Steve Sanghi,

interim CEO of Microchip Technology ( MCHP ), are the new

additions to its board. Both Meurice and Sanghi have previously

worked at Intel ( INTC ).

Intel ( INTC ) has struggled to keep up with advanced chipmaking,

falling well behind rivals such as Nvidia ( NVDA ) in designing

chips that power AI and TSMC in making smaller and

more efficient semiconductors.

Gelsinger, whose removal as CEO was announced on Monday, was

tasked to restore Intel's ( INTC ) lead in chipmaking, but his costly bet

on contract manufacturing has seen the company shrink to a

market value more than 30 times smaller than Nvidia ( NVDA ).

Intel ( INTC ) has started evaluating a handful of outsiders,

including former board member Lip-Bu Tan, for the role of CEO,

Reuters reported on Tuesday.

The company's next CEO will have manufacturing expertise as

well as experience in the product side of the business, interim

co-CEO and CFO David Zinsner said earlier this week.

Meurice led ASML from 2004 to 2013 and previously held roles

at Thomson S.A, Dell, and ITT Semiconductors. He worked

at Intel ( INTC ) between 1984 and 1989.

ASML's extreme ultraviolet lithography tools are crucial for

making smaller, faster chips. Intel's ( INTC ) delay in adopting these

tools set it years behind Taiwanese rival TSMC.

Sanghi chairs Microchip's board and was its CEO from 1991 to

2021, before returning as interim chief executive in November as

the chipmaker grappled with a slowdown in demand from automotive

customers. He was at Intel ( INTC ) between 1978 and 1988, according to

his LinkedIn page.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Tasim

Zahid and Anil D'Silva)