Eric Meurice
Director at INTC
Board
About Eric Meurice
Eric Meurice (age 68) is an Independent Director at Intel, appointed December 4, 2024, and designated as an Audit & Finance Committee member and “audit committee financial expert.” He is the former President, CEO and Management Board Chair of ASML and previously held senior roles at Thomson, Dell, ITT Semiconductors, and Intel; he is an Arjay Miller Scholar of Stanford GSB, underscoring strong business credentials and global semiconductor expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ASML Holding N.V. | President & CEO; Management Board Chair | 2004–2013; 2013–2014 | Led expansion of R&D and industry partnerships (Intel, Samsung, TSMC) supporting EUV lithography development used in current leading-edge manufacturing . |
| Thomson SA (Television Division) | Executive Vice President | 2001–2004 | Senior operating leadership in electronics manufacturing . |
| Dell Computer Corporation | VP & GM, Southern & Eastern Europe | 1995–2001 | Regional P&L and go-to-market leadership . |
| ITT Semiconductors | Worldwide Marketing & Sales Director | 1989–1995 | Global commercial leadership in discrete and IC components . |
| Intel Corporation | Product development and marketing (automotive) | 1984–1989 | Early-career engineering/marketing experience at Intel . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Global Blue Group Holding AG | Director | Current | Public company board service . |
| IPG Photonics Corp. | Director | Current | Public company board service . |
| Stanford GSB | Arjay Miller Scholar | — | Academic accolade noted in Intel proxy . |
Board Governance
- Committee assignments: Audit & Finance Committee member; identified as an “audit committee financial expert.” Joined the Audit Committee in February 2025 .
- Independence: The Board determined 10 of 11 nominees (including Meurice) are independent under Nasdaq rules; all Audit Committee members meet heightened SEC/Nasdaq independence and literacy standards .
- Attendance and engagement: In 2024, the Board held 15 meetings and committees met as follows—Audit (12), Compensation (6), Governance (5); each director attended at least 75% of meetings during their service period; weighted average attendance was 95% .
- Board refreshment: Added as a new independent director in December 2024 to deepen semiconductor expertise on the Board .
- Overboarding policy: Intel limits directors to ≤4 public boards (including Intel). Meurice serves on Intel + two other public boards, within policy limits .
Fixed Compensation
Intel’s non-employee director pay program (structure applies to Meurice prospectively; 2024 amounts for him were not separately disclosed due to appointment late in year):
- Cash retainer: $100,000 (2024; increased from $90,000 in 2023) .
- Annual equity grant: RSUs with target grant-date value $250,000; vest over the service year (earlier of one-year anniversary or next annual meeting) .
- Committee retainers (2024): Audit Chair $45,000; Audit member $20,000; Compensation Chair $40,000; Compensation member $15,000; Governance Chair $35,000; Governance member $5,000 .
- RSUs-in-lieu-of-cash election and cash/equity deferral programs available to directors .
- Stock ownership guidelines: ≥5x annual cash retainer within five years of joining the Board; as of Dec 28, 2024, all non-employee directors met the guideline or still had time to do so .
| Element | 2024 Amount | Notes |
|---|---|---|
| Annual Cash Retainer | $100,000 | Standard for all non-employee directors . |
| Annual Equity (RSUs) | $250,000 | Time-vested RSUs aligned to one-year service cycle . |
| Audit Committee Member Retainer | $20,000 | Meurice joined Audit in Feb 2025 . |
| Ownership Guideline | 5x cash retainer | Compliance within five years of joining . |
Performance Compensation
Non-employee directors do not receive performance-conditioned pay; equity grants are time-vested RSUs (no performance metrics).
| Plan | Metric(s) | Weight | Threshold | Target | Max | Notes |
|---|---|---|---|---|---|---|
| Director Equity (RSUs) | None (time-based vesting) | — | N/A | N/A | N/A | Vests over service year; some accelerated settlement upon retirement at age 75 (or 72 for older awards) or ≥7 years of service . |
Other Directorships & Interlocks
| Company | Relationship Type | Potential Interlock/Conflict | Disclosure Status |
|---|---|---|---|
| Global Blue Group Holding AG | Public company director | Payments/retail tech; no disclosed Intel RPTs | No related-person transactions reported for directors, and Board found no relationships impairing independence . |
| IPG Photonics Corp. | Public company director | Photonics/lasers; no disclosed Intel RPTs | No related-person transactions reported for directors, and Board found no relationships impairing independence . |
| Former ASML leadership | Ex-CEO/Chair (not current) | Historical supplier/partner to Intel; not a current role | Independence affirmed; RPT program described; only disclosed RPT in 2024 involved an employee relative of an Intel executive (unrelated to Meurice) . |
Expertise & Qualifications
- Deep semiconductor operations and manufacturing leadership (ex-CEO/Chair of ASML) with direct experience in EUV lithography and strategic industry partnerships (Intel, Samsung, TSMC) .
- Financial expertise recognized by Intel as an “audit committee financial expert,” supporting Audit oversight and ERM/cyber review cadence at the Board level .
- Global commercial leadership across Europe and electronics markets (Dell, Thomson, ITT) and prior Intel operating familiarity .
- Governance emphasis: added in 2024 to bolster Board’s semiconductor depth as part of refreshment responding to shareholder feedback .
Equity Ownership
| Holder | Beneficial Shares | % Outstanding | Notes |
|---|---|---|---|
| Eric Meurice | — | <1% | As of March 19, 2025 reporting date; directors subject to no-hedging/pledging policy and must reach ≥5x cash retainer within five years . |
Policy references:
- No hedging or pledging of Intel stock by directors/executives .
- Director ownership guideline: ≥5x annual cash retainer within five years .
Governance Assessment
-
Positives/signals:
- Independence affirmed; designated Audit Committee financial expert—supports robust financial, controls and risk oversight .
- Board added Meurice during a deliberate refresh to strengthen semiconductor/operator expertise amid Intel’s transformation and foundry separation—improves board effectiveness on core strategy and capital deployment .
- Strong director pay design: majority equity, time-vested RSUs, ownership guideline (5x retainer), no hedging/pledging—aligns with shareholder interests .
- Attendance culture is strong (95% weighted average; each director ≥75%); significant Board/committee workload signals high engagement (Board 15; Audit 12; Comp 6; Gov 5 in 2024) .
-
Watch items/risks:
- New-to-board ownership: reported no beneficial Intel shares as of March 19, 2025; as a new appointee he has five years to meet guideline—investors may watch pace of accumulation for alignment .
- External boards: serves on two additional public boards but remains within Intel’s overboarding limits; monitor time commitments as Audit Committee member during a high-change period at Intel .
- Related-party exposure: none disclosed for Meurice; Board reviewed director-associated transactions and found no impairments to independence; continue monitoring given historical ASML ties in supply chain (no current ASML role) .