Intel Elects Barbara G. Novick to Board of Directors

Rhea-AI Summary

Intel Corporation announces the election of Barbara G. Novick, co-founder of BlackRock, to its board of directors effective Dec. 1, 2022. Novick, who has extensive experience in investment and finance, will serve as an independent director and join the Audit & Finance and Compensation committees. Her appointment is aimed at strengthening advocacy for stockholders as Intel pursues its transformation strategy. Novick has a long history in asset management, having established BlackRock's Global Government Relations and Public Policy Group.

Positive

• Appointment of Barbara G. Novick expected to enhance shareholder advocacy.
• Novick brings extensive expertise from her leadership role at BlackRock.
• Her experience may accelerate Intel's transformation efforts and value unlocking.

Negative

• None.

BlackRock co-founder brings extensive expertise in unlocking stockholder value, accelerating transformations.

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intel Corporation today announced that Barbara G. Novick, co-founder and senior advisor at BlackRock Inc., was elected to its board of directors, effective Dec. 1, 2022. Novick will serve as an independent director and join the board’s Audit & Finance and Compensation committees.

Barbara G. Novick, co-founder and senior advisor at BlackRock Inc., joins Intel's board of directors effective Dec. 1, 2022. (Photo: Business Wire)

“As co-founder and leader of one of the world’s most successful investment firms, Barbara brings a unique perspective to Intel’s board,” said Omar Ishrak, chairman of the Intel board. “With her deep experience in investment and finance as well as broad business acumen, Barbara will be a strong advocate for the interests of our stockholders as Intel continues its transformation.”

Novick, 62, co-founded BlackRock in 1988 and continued as its vice chairman until February 2021, when she transitioned to senior advisor. In 2009, she established BlackRock's Global Government Relations and Public Policy Group to provide a voice for investors, which she headed until 2021; and from 2018 to 2020, she additionally oversaw BlackRock's Global Investment Stewardship team.

“With its compelling IDM 2.0 strategy, vision and drive, Intel is in a position to capitalize on a tremendous opportunity as the world becomes ever more digital,” said Novick. “I am excited to join the board of directors and do my part to help the company transform for long-term success and unlock value for all its stockholders.”

Novick has served since 2021 on boards of directors of New York Life Insurance Co., a mutual insurance company, and American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing by American banks and financial institutions. She also serves on the boards of the Peterson Institute for International Economics, 100 Women in Finance, Committee on Capital Markets Regulation, and the Millstein Center for Global Markets and Corporate Ownership, and on the advisory boards of Growth Curve Capital and the Center for Financial Stability. She previously served on the boards of Cornell University from 2012 to 2020 and the Investment Company Institute from 2015 to 2021.

Novick earned a Bachelor of Arts, cum laude, in economics from Cornell University. She has authored numerous articles on asset management and public policy issues and over her career has received numerous awards and accolades, including Barron’s 100 Most Influential Women in U.S. Finance in 2020.

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.

© Intel Corporation. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005209/en/

William Moss

Media Relations

1-650-521-1754

william.moss@intel.com



Kenji Morita

Investor Relations

1-408-765-7700

kenji.morita@intel.com

Source: Intel Corporation

FAQ

What is the significance of Barbara Novick joining Intel's board of directors?

Barbara Novick's election to the board is significant as she brings extensive financial and investment expertise, which may strengthen Intel's commitment to shareholder value.

When does Barbara Novick officially start her role on Intel's board?

Barbara Novick will officially start her role on Intel's board of directors on December 1, 2022.

What committees will Barbara Novick serve on at Intel?

Barbara Novick will serve on Intel's Audit & Finance and Compensation committees.

What experience does Barbara Novick bring to Intel?

Barbara Novick co-founded BlackRock and has extensive experience in investment management and corporate governance, having led key initiatives at her previous firm.