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.
Key Takeaway: Intel announced major executive changes, including the departure of long-time executive Michelle Johnston Holthaus, as CEO Lip-Bu Tan pushes ahead with efforts to streamline operations and revive the struggling chipmaker.
Holthaus Departure
Michelle Johnston Holthaus, Intel’s products chief, will exit after 30+ years with the company.
Roles held: multiple senior leadership positions, including interim co-CEO following Pat Gelsinger’s ouster in 2024.
She will stay on as a strategic adviser in the transition period.
New Appointments
Kevork Kechichian joins as EVP and GM of the data center group.
Background: Former EVP of engineering at Arm; prior experience at NXP Semiconductors and Qualcomm.
Srinivasan Iyengar to lead newly formed central engineering group.
Mandate: Build a custom silicon business for external customers.
Naga Chandrasekaran expands responsibilities at Intel Foundry, adding Foundry Services oversight.
Jim Johnson appointed GM of client computing group.
Strategic Context
CEO Lip-Bu Tan is flattening the leadership structure, bringing key chip divisions under his direct oversight.
The company is also undergoing job cuts as part of broader restructuring.
The shake-up comes as Intel faces heightened uncertainty, with:
U.S. government preparing to take a 10% stake in Intel.
President Donald Trump openly calling for Tan’s resignation over alleged conflicts of interest.
Outlook
The leadership changes underscore Intel’s effort to accelerate decision-making, expand custom silicon offerings, and revive competitiveness in a semiconductor market dominated by rivals like TSMC, NVIDIA, and AMD. Execution on Tan’s turnaround strategy will be closely watched by both investors and Washington.
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