Toshiba Memory Corp. (TMC) on Thursday disclosed that Stacy Smith, a former high-ranking exec of Intel, was appointed executive chairman, effective October 1. Mr. Smith brings a wealth of experience when it comes to strategic and operative management to the maker of NAND flash memory and products on its base.

Stacy Smith worked from 1988 to 2018 at Intel, serving at different positions. Most recently, he was President of Manufacturing Operations and Sales, hosting Intel's Manufacturing day, and was formerly (2006-2016) Intel's CFO.  As chief financial officer, he was responsible for corporate strategy, mergers & acquisitions, finances, and the Intel Capital investment arm. Before that, he was CIO and vice president for sales on EMEA.

During Mr. Smith’s tenure as CFO, Intel not only transformed itself from a CPU maker to a provider of computing platforms, but also entered the market of storage devices with its SSDs, so Mr. Smith is not new to NAND flash business.

By making Stacy Smith executive chairman, Toshiba Memory gets an experienced exec who knows how to set up corporate strategies and how to manage vertically-integrated semiconductor manufacturing companies. Furthermore, the appointment plays an important image-building role and ensures that Toshiba Memory can  interact with its U.S. investors. Mr. Smith will join Yasuo Naruke, president and CEO of TMC, who has fab management and corporate management experience.

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Source: Toshiba

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  • JoeyJoJo123 - Thursday, October 11, 2018 - link

    Damn, Intel's hemorrhaging talent left and right.
  • DanNeely - Friday, October 12, 2018 - link

    From CFO, the only up positions are President, CEO, and Chairman of the Board. It looks like Intel's decided not to fill the overall President role since Renée J. James left in 2015, with Brian M. Krzanich appointed CEO in 2015, and Andy D. Bryant as Chairman in 2012; there was no reasonable promotion path for Smith internally. After a decade in his prior role up or out pressure would have been mounting for him to step down in favor of an up and coming junior, so his departure in 2016 shouldn't've been a big surprise.
  • HStewart - Sunday, October 14, 2018 - link

    It just funny when Intel personal leave they some people call it "hemorrhaging talent left and right" but when they gain someone from AMD like Raju - they call him the person a worthless traitor. People come and go in CPU business

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