Jane Edwards
Intel has unveiled a financial reporting structure as part of its move to a foundry operating model meant to improve transparency, growth and accountability across the business.
Intel Foundry is the technology company’s newly created operating segment that includes foundry services, foundry manufacturing and supply chain and foundry technology development, the company said Tuesday.
Under the new reporting structure, Intel Foundry will acknowledge revenues from external foundry clients and Intel Products business, which includes the company’s Client Computing Group, Network and Edge and Data Center and AI.
Intel will collectively refer Altera – which launched as a standalone entity in February focused on the field programmable gate array market – Mobileye and Other as All Other.
“Implementing this new model marks a key achievement in our IDM 2.0 transformation as we hone our execution engine, stand up the industry’s first and only systems foundry with geographically diverse leading-edge manufacturing capacity, and advance our mission to bring AI Everywhere,” said Intel CEO Pat Gelsinger.
IDM 2.0 is Intel’s integrated device manufacturing strategy that intends to advance innovation and drive product leadership. The strategy is composed of three elements: the new Intel Foundry Services business unit, internal factory network and expanded use of third-party foundry capacity.
In addition to the new financial reporting structure, Lorenzo Flores, a nearly three-decade financial executive in the technology and semiconductor industries, has been named chief financial officer of Intel Foundry, effective April 8.
He, along with Intel Products CFO Mark Henniger, will directly report to Intel CFO Dave Zinsner.
Flores most recently served as chief financial officer at Xilinx.
