Intel announced two new board members Thursday as Carol Bartz, CEO of Yahoo, resigned from the board.
The chipmaker said Thursday that John J. Donahoe, CEO of eBay, and Frank D. Yeary, vice chancellor of the University of California at Berkeley, have been elected to serve on Intel's board of directors.
Concurrently, Intel announced that Carol Bartz, the new CEO of Yahoo, is retiring from the board.
Intel issued the following information about the two newly elected board members:
Donahoe, 48, has served as eBay president and CEO since 2008. He joined eBay in 2005 and oversaw the company's global e-commerce businesses. Prior to joining eBay, Donahoe spent more than 20 years at Bain & Company, a worldwide consulting firm, last serving as CEO. In addition to serving on eBay's board of directors, Donahoe is on the board of trustees of Dartmouth College. He received his bachelor's degree in economics from Dartmouth College and an MBA from the Stanford Graduate School of Business.
Yeary, 45, is an adviser to the chancellor and his senior staff on strategic and financial issues important to UC Berkeley. Prior to this appointment in 2008, Yeary retired as global head of mergers and acquisitions for Citigroup after nearly 25 years in finance. Yeary received his bachelor's degree from UC Berkeley in economics and history.
Autodesk announced on Thursday plans to cut about 10 percent of its workforce--or about 750 employees--as it lowered its fourth-quarter earnings outlook.
The drafting and design software maker now expects to post between $475 million and $500 million in revenue when it reports results on February 26. In its previous forecast in November, the company said it expected to bring in $525 million to $550 million in the quarter.
Autodesk also lowered its non-GAAP earnings outlook to 18 cents to 24 cents, excluding special charges, down from its previous forecast of 28 cents to 34 cents.
The company's shares fell as much as 15.5 percent in intraday trading to $14.98.
Autodesk plans to take a pretax charge of $65 million to $75 million as a result of the restructuring and layoffs, and save roughly $130 million in annual pretax dollars beginning next year.
Autodesk noted that it also "may take an impairment charge of up to $125 million net of taxes" in the fourth quarter, adding that a final determination hasn't been made.
The layoff announcement and fourth-quarter warning come two days after Yahoo announced its hiring of Autodesk Executive Chairwoman Carol Bartz as its new CEO.
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Yahoo CEO Carol Bartz
(Credit: Autodesk)Former Autodesk Chief Executive Carol Bartz, 60, will be the new CEO at Yahoo. Here is more information on who she is and what she faces in her new role.
Education
Bachelor's degree in computer science at the University of Wisconsin at Madison
Resume
Executive chairman of the board, Autodesk
CEO, Autodesk, 1992-2006
VP of worldwide field operations, at Sun Microsystems, 1983-1992
Product Line and Sales Management positions at Digital Equipment and 3M
Director on boards of Cisco Systems, Intel, NetApp
Awards
President George W. Bush's Council of Advisers on Science and Technology
50 Most Powerful Women in Business, Fortune, 2005
World's 30 Most Respected CEOs, Barron's, 2005
50 Women to Watch, The Wall Street Journal, 2005
Rivals
Yahoo President Sue Decker and former Vodafone Chief Executive Arun Sarin
Key challenges
Capitalize on Yahoo's open strategy to gain more audience and market share
Find the best online ad strategy in a market dominated by Google in search and in a recession vulnerable display advertising sector
Decide what parts of the company to maintain and which to get rid of
Figure out whether to be a technology company or a media company and offer a clear message
Quotes
"You must fail. If you don't fail, you don't know the degrees of success... I think failure's a very important part of life." 1997
"I believe in telling people what I feel, and then I move on. I don't play poker because you could read everything I'm thinking. It's tough for me to be around people who aren't direct. It drives me crazy." 2005
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