KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Intel Corp., facing its biggest crisis in decades, has appointed semiconductor veterans Eric Meurice, former CEO of ASML Holding NV, and Steve Sanghi, CEO of Microchip Technology Inc., to its board. The company announced their immediate appointments on Thursday, aiming to inject "experience and operational vigor" into its leadership.
Leadership Amid Challenges
- The board changes come as Intel searches for a new CEO following the departure of Pat Gelsinger earlier this week.
- Despite the leadership shift, Intel has reaffirmed its commitment to Gelsinger’s strategy of transforming into a major foundry, producing chips for external customers.
Industry Expertise
- Eric Meurice led ASML from 2004 to 2013, turning it into a global leader in semiconductor equipment, including the cutting-edge extreme ultraviolet lithography essential for modern chip production.
- Steve Sanghi, who recently resumed his CEO role at Microchip Technology to address declining sales, brings extensive experience in navigating industry downturns.
Navigating a Historic Comeback
Intel’s decline from its dominant position has been exacerbated by the rapid rise of artificial intelligence computing, which propelled rivals like Nvidia Corp. to industry dominance. The company is under pressure to regain its technological edge and restore shareholder confidence.
What’s Next?
Frank Yeary, Intel’s interim executive chair, emphasized the importance of the new board members:
"Eric and Steve are highly respected leaders in the semiconductor industry. Their proven track records as CEOs will bring valuable perspectives to Intel’s board."
Intel’s ability to navigate its strategic transformation and leadership transition will determine whether it can reclaim its position at the forefront of the semiconductor industry.
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