Intel Israel CEO Yaniv Garty steps down, co-CEOs appointed

After six years at the helm, Intel Israel CEO Yaniv Garty is stepping down. Garty (57) joined Intel in 2004 as a business manager in the mobile communications chip division and rose through the ranks to lead Intel Israel during a difficult period for the international company. He has also served as a VP, product lines GM, next generation solutions and standards (NGS).

Double appointment

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Garty will be replaced by two-CEOs who will serve alongside each other handling the different activities of Intel Israel – development and production. Karin Eibschitz-Segal, General Manager of Intel Israel Development Center & Intel Validation Engineering, and Daniel Benatar Co-General Manager of Intel Worldwide Semiconductor Manufacturing. Both are Intel Corporate VPs.

Intel explains that the double appointment has been made as part of the company’s business strategy to connect two areas that are currently distinct from each other in the company – development and production, and which will also be opened to additional chip companies.

Intel is currently preparing for a round of extensive cuts but Garty’s resignation is not connected directly with the streamlining. He has expressed his desire to step down but his resignation was only recently accepted by Intel’s top management after his replacements were identified.

The two new co-CEOs take over at a tricky time. Israel’s largest employer in the private sector is having a clean out with a voluntary retirement program being implemented. Dozens of employees in Israel and hundreds worldwide have already left at the end of last year in some parts of the company.

Eibschitz-Segal and Benatar are both senior, long-serving Intel executives who have worked their way up through the company.

Published by Globes, Israel business news – en.globes.co.il – on January 9, 2023.

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