Omar Ishrak, the chief executive of Medtronic, joined Intel’s board in March 2017. Photo: steve marcus/Reuters

Intel Corp. INTC 1.59% has named Omar Ishrak as its new chairman effective immediately, replacing Andy Bryant who stepped down from his role at a board meeting earlier this month.

Mr. Bryant, an Intel veteran whose career at the U.S. chip maker spanned well over three decades serving in a variety of senior executive roles, told the board last March he wouldn’t run for re-election in 2020. Mr. Bryant, who started as board chairman in May 2012, will leave the board in May, he said in prepared remarks.

“Andy has been a rudder for Intel during a time of change and transformation,” Intel Chief Executive Bob Swan said in prepared remarks.

Last year, Intel’s board extended Mr. Bryant’s time as chairman for an extra year citing his experience and the need for “leadership continuity” given that Mr. Swan started as CEO in January 2019 after serving as interim CEO following Brian Krzanich’s departure. Board chairmen typically serve a maximum of two, three-year terms in the role.

Mr. Ishrak, the chief executive of Medtronic PLC, joined Intel’s board in March 2017.

The company also said the board named Square Inc. seller lead Alyssa Henry as an independent director.

Write to Allison Prang at [email protected] and Josh Beckerman at [email protected]

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