Intel earlier announced that it will operate the Programmable Solutions Group (PSG) in an independent form, and Sandra Rivera, formerly Intel's executive vice president and general manager of the Data Center and Artificial Intelligence Group, will serve as CEO.
Sandra Rivera will continue to serve as general manager of Intel's Data Center and Artificial Intelligence Group until a suitable successor is found. Shannon Poulin, formerly general manager of the Programmable Solutions Group, will become chief operating officer of the new, independently run organization.
The announcement of the separation of the Programmable Solutions Division is obviously related to Intel's recent restructuring of its business, and also draws on past acquisitions and integrations into the Intel system.Mobileye, and will be subsequently split into an independent company and successfully listed in 2022 to gain greater investment opportunities. It is expected that after the programmable design solutions division operates in an independent form, it will also follow the same model to seek external investment.
Intel plans to operate the Programmable Solutions Group as an independent unit starting January 2024, 1, and will continue to provide resources. The Programmable Solutions Group will report its financial results as a standalone business in the first quarter of fiscal 1. Furthermore, Intel plans to list the Programmable Solutions Group on a public stock exchange within the next two to three years to attract more investment opportunities, but Intel will retain a majority stake.
