March 27 (Reuters) - Three Intel board members

will not stand for reelection at its 2025 annual meeting, the

chipmaker said in a regulatory filing on Thursday, amid a

historic transition under newly appointed CEO Lip-Bu Tan.

Since late last year, the company has been reshuffling its

board to make it more chip industry focused as it attempts to

reclaim its lost glory under new leadership.

The latest move will shrink the size of the board to 11.

The members retiring include Omar Ishrak, former CEO of

medical device maker Medtronic ( MDT ), who had in January 2023

stepped down as Intel's ( INTC ) chairperson but stayed on as a director.

Tsu-Jae King Liu, a dean at the College of Engineering at

the University of California, Berkeley, and Risa Lavizzo-Mourey,

a former professor of population health and health equity at the

University of Pennsylvania, are the others leaving the board.

Meanwhile, Intel ( INTC ) bolstered its board through the

appointments of Eric Meurice, former CEO of chipmaking equipment

provider ASML, and Steve Sanghi, interim CEO of

Microchip Technology ( MCHP ), in December.

The appointments followed the ouster of former CEO Pat

Gelsinger.

The changes mark a departure from Intel's ( INTC ) previous board

structure, which was populated by leaders in academia and

finance, as well as former senior executives from the medical,

tech and aerospace industries.

"We are committed to having the right mix of skills,

qualifications and technical expertise on the Board,"

Chairperson Frank Yeary said in the filing on Thursday.

All other current directors will stand for reelection.

"EQUALLY FOCUSED" ON PRODUCT AND FOUNDRY

CEO Tan said in a letter to shareholders on Thursday that

"to enable great products," he was "equally focused" on the

company's product business and contract chip manufacturing

business - the center of a turnaround strategy championed by

former CEO Gelsinger.

Gelsinger's total severance payment stands at about $7.9

million and he has forfeited all his outstanding unvested equity

awards, the company said.

Tan, who in August left Intel's ( INTC ) board due to disagreements

over the company's revival plan, rejoined as a director along

with his appointment as CEO.

"We will remain focused on executing this plan to reduce our

operating expenses and capital expenditures, simplify our

portfolio and eliminate organizational complexity," Tan said,

referring to the cost-savings plan introduced last year under

Gelsinger, which included a 15% workforce reduction.