Intel hires industry veteran Kevin O'Buckley to head Foundry Services

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(Reuters) -Intel on Monday named Kevin O'Buckley head of services at its contract chip-making business, tapping an industry veteran as the company builds out the unit to catch up with market leader Taiwan Semiconductor Manufacturing.

He will succeed company veteran Stuart Pann, who set up the Intel Foundry segment under the company's new operating model.

For decades, Intel made chips only for itself but over the past few years has poured billions into its foundry business as it seeks to bolster its manufacturing capabilities and produce more semiconductors as a contract manufacturer.

O'Buckley, who will report to Intel CEO Pat Gelsinger, has more than 25 years of experience in the semiconductor industry and was most recently senior vice president of hardware engineering at Marvell Technology's custom chip unit.

He has also held leadership positions at firms such as GlobalFoundries and International Business Machines.

Pann, who will retire at the end of May after 35 years at Intel, will remain as adviser to support the leadership transition.

The services unit of Intel's foundry business is responsible for functions such as customer service.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi Majumdar and Sriraj Kalluvila)