Intel (Nasdaq: INTC) has announced plans to separate its Programmable Solutions Group as a standalone unit to enable PSG to better compete and pursue growth in the field programmable gate array market and appointed Sandra Rivera, an executive vice president at the company, to oversee PSG as CEO.
Santa Clara, California-based Intel said Tuesday it intends to hold an initial public offering for the independent unit in the next two to three years to accelerate growth and keep a majority stake in PSG, which will begin operations as a standalone entity on Jan. 1.
“Our intention to establish PSG as a standalone business and pursue an IPO is another example of how we are consistently unlocking more value for our stakeholders. This will give PSG the independence it needs to keep growing share in the FPGA market, differentiating itself with capacity and supply resilience from IFS, and allowing Intel product teams to focus on our core business and long-term strategy,” said Intel CEO Pat Gelsinger.
PSG will continue working with Intel Foundry Services as they address key FPGA market areas.
In addition to her role as CEO of PGS, Rivera will continue to serve as general manager of Intel’s data center and artificial intelligence group until the company finds a replacement.
She became head of the data center and AI group in 2021 after serving as chief people officer at Intel. She has been with the company since 2000 and held positions of increasing responsibility, including head of the network platforms group and marketing director.
Before Intel, Rivera co-founded The CTI Authority and served as president of Catalyst Telecom’s computer telephony division.
Shannon Poulin, corporate VP and GM of PSG, will assume the role of chief operating officer of the standalone business unit.
Poulin joined Intel in 1999 and has held leadership roles since then, including CVP and GM of global markets and partners and GM of data center marketing and enterprise IT segment.
