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PORT AU PRINCE, Haiti (CMC) – French President Emmanuel Macron sharply criticised Haitian officials who dismissed Prime Minister Garry Conille, calling them “complete idiots” in a video that surfaced on social media. The remarks made during a private conversation in Rio de Janeiro, on the sidelines of the G20 summit, were in response to a Haitian individual who had blamed France for Haiti’s ongoing crisis. Macron expressed frustration over the dismissal, stating that Conille had been an effective leader, and he had supported him. He lamented that Haiti’s political instability, fueled by drug trafficking and gang violence, had worsened the country’s situation. The president noted that Conille’s removal was a tragic decision, as he believed the prime minister had been doing a good job. Conille had argued that only Haiti’s parliament had the authority to remove him, but since the legislature is not currently functioning, the transitional presidential council proceeded with the dismissal. The dismissal of Conille, replaced by businessman Alix Didier Fils Aimé on November 11, has deepened uncertainty in Haiti, which has been grappling with violence, political chaos, and humanitarian crises. The nation remains leaderless following the assassination of President Jovenel Moïse in 2021, and gang violence controls much of the capital. Macron’s comments reflect ongoing frustration with the country’s political and security challenges.NEW YORK (AP) — Daniel Penny chose not to testify and defense lawyers rested their case Friday at his trial in the death of an agitated man he choked on a subway train. Closing arguments are expected after Thanksgiving in the closely watched manslaughter case about the death of Jordan Neely , 30. The encounter between Penny, a white Marine veteran, and Neely, a homeless Black man with mental health and drug problems, has been drawn into U.S. political divides over race, public safety and cities’ ability to handle mental illness and social ills. Penny, 26, has pleaded not guilty. Many criminal defendants don't take the stand, and juries are routinely instructed that they cannot hold defendants' silence — a constitutional right — against them. One of Penny’s lawyers, Daniel Kenniff, noted after court that jurors did hear from Penny, in the form of his recorded statements to police minutes and hours after he put Neely in a chokehold. “Virtually everything he said then is consistent with credible testimony of his fellow passengers," Kenniff said. Penny told police that he wrapped his arm around Neely's neck, took him to the floor and “put him out” because he was angrily throwing things and making threatening comments. Penny said on police video that he hadn't wanted to injure Neely but rather to keep him from hurting anyone else. A number of other passengers testified that they were scared of Neely and relieved that Penny grabbed hold of him. A man who later stepped in and held down Neely's arms, however, told jurors that he urged Penny to let go but that the veteran kept choking Neely for a time. Prosecutors say Penny meant to protect people but recklessly used too much force, overlooking Neely's humanity and making no effort to spare his life. City medical examiners ruled that the chokehold killed Neely. A pathologist hired by Penny's defense disputed that finding . Prosecutors, defense lawyers and the judge are set to meet Monday to hash out jury instructions. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!Former Indian cricketers like Harbhajan Singh, Yuvraj Singh, Virender Sehwag and VVS Laxman mourned the death of ex-PM Manmohan Singh. Dr Singh passed away in New Delhi at the age of 92. New Delhi: Former Indian cricketers offered their condolences on the passing away of ex-Prime Minister Dr Manmohan Singh in Delhi on Thursday. Dr Singh was admitted to AIIMS after his health deteriorated at around 8 PM and finally around 10 PM, the statesman breathed his last. AIIMS Delhi in a press statement late on Thursday night informed about the demise of the veteran politician. A tall politician who contributed immensely towards transforming India into an economic power as the Finance Minister of the country back in the 90s, passed away at the age of 92. Dr Singh had multiple health problems from quite some time and at the hospital, he was being treated for a lung infection and breathing difficulties. “With profound grief, we inform the demise of Former Prime Minister of India, Dr. Manmohan Singh, aged 92. He was being treated for age-related medical conditions and had sudden loss of consciousness at home on 26th December 2024,” AIIMS said in a statement. Indian cricket fraternity mourns death While the who’s who of the political sphere offered their condolences on the sad demise of the former PM, ex-Indian cricketers also came forward to mourn the death of the veteran leader. Harbhajan Singh, Yuvraj Singh and VVS Laxman were among the first one’s who took to social media to offer their condolences. Former Indian spinner Harbhajan Singh wrote that he was saddened by the sudden demise of the ex-PM, calling Dr Singh a visionary leader and a thorough gentleman. Ex-Indian cricketers Virender Sehwag and VVS Laxman also took to social media late Thursday night to mourn the loss of the former Prime Minister. The Union government declared a seven-day mourning in honour of former PM Dr Manmohan Singh, officials said. They added that the Cabinet will meet at 11 am on Friday to pay tributes to him. Click for more latest Cricket news . Also get top headlines and latest news from India and around the world at News9. A professional career of over 12 years in the digital media sector, I have been an ardent follower of news, with sports atop my priority table. Have been fortunate enough to have my professional stints with some of the most reputed media organizations in the country like ESPN, Sony Six, Zee Media Corporation and NDTV. Enjoy working on meaningful stories that bring you to the edge of your seat. Believe in the concept of 'power of a good header' in a story and try to strongly abide by it. When I am not working, sports, good music, a long car drive and good food keep me engaged.
U.S. president-elect Donald Trump says he told Canadian hockey legend Wayne Gretzky during a Christmas Day visit that he should run for prime minister of Canada. “I just left Wayne Gretzky, ‘The Great One’ as he is known in ice-hockey circles,” Trump posted on his Truth Social platform Wednesday afternoon. “I said, ‘Wayne, why don’t you run for prime minister of Canada, soon to be known as the governor of Canada — you would win easily, you wouldn’t even have to campaign.’ He had no interest,” Trump wrote. His comment about being governor of Canada refers to Trump repeatedly suggesting the country become a U.S. state, which Ottawa insists is a joke. Trump added that it would be “fun to watch” if Canadians launched a movement to get the retired hockey player to seek office. The Canadian Press has tried to contact Gretzky through his agents. Experts have said that Ottawa is rightfully focused on the prospect of damaging tariffs under the looming Trump presidency instead of pushing back on rhetoric about annexing or purchasing Canada. Prime Minister Justin Trudeau leads a minority government that could be toppled by a confidence vote next year, following the surprise resignation of finance minister Chrystia Freeland. Trump also expressed Christmas greetings to Trudeau, again referring to him as a governor and claiming that Canadians would see a tax cut of more than 60 per cent if the country became an American state. “Their businesses would immediately double in size, and they would be militarily protected like no other country anywhere in the world,” Trump wrote in a post that also alluded to his desire to annex Greenland and the Panama Canal. Gretzky has previously backed Conservative politicians, such as former Ontario Progressive Conservative leader Patrick Brown during his run for the party leadership. During the 2015 federal election, Conservative leader Stephen Harper interviewed Gretzky in front of hundreds of supporters as the Tories unsuccessfully sought re-election. At the event, Gretzky told Harper he thought he had been an “unreal prime minister” who had been “wonderful to the whole country.” Gretzky later said he always follows a prime minister’s request, regardless of political stripe, noting he had once hosted a lunch for former Liberal prime minister Pierre Trudeau.
( MENAFN - Nam News Network) SEOUL, Dec 30 (NNN-YONHAP) – South Korea's joint investigation unit, said today that, it sought a warrant to arrest the impeached President Yoon Suk-yeol, over his martial law imposition. The investigation unit, consisting of corruption Investigation Office for High-ranking Officials, National Office of Investigation and the defence ministry's investigation headquarters, said in a short notice that, it requested the arrest warrant for Yoon at midnight, to the Seoul Western District Court. It marked the first time in the country's modern history, that an arrest warrant has been filed against an incumbent president. The unit asked Yoon to appear for questioning three times on Dec 18, Dec 25 and Dec 29, but Yoon's side refused to receive summons, while having yet to submit documents for the appointment of his defence counsel. Yoon was named by investigative agencies as a suspected ringleader on insurrection charge.– NNN-YONHAP MENAFN30122024000200011047ID1109040398 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.Bad Bunny announces a new album, 'Debí Tirar Más Fotos'
Triliv Holdings Ltd Joins Verchool Holdings as Strategic Investor on a $50 Million Valuation Round
What Congress has in mind for the future of the Abraham Accords
Oregon 78, San Diego St. 68
NoneArizona men’s golf standout Tiger Christensen announced on social media Thursday that he’s turning professional. Christensen, a senior from Hamburg, Germany, will begin his pro career in Europe after participating in the DP World Tour Qualifying School. Christensen reached the final stage of Q School and placed 58th at Infinitum Golf in Tarragona, Spain. The top 20 finishers and ties earn a tour card. Christensen currently ranks 27th in the World Amateur Golf Ranking . “Arizona has become a big part of my life in a way that I didn’t expect,” Christensen posted . “Coach Jim (Anderson) and Coach Matt (Walton) have done an amazing job these past two years, and I am going to miss teeing it up alongside my teammates. I have so many memories that I will remember forever. ... Arizona’s Tiger Christensen tees off on No. 18 during the first day of competition at the 2024 NCAA Men’s Golf Championships at Omni La Costa Resort and Spa in Carlsbad, California. “This was a very difficult decision for me, but after a marathon at the DP World Tour Q School, I have accepted the opportunity to begin my professional career in Europe. I am excited about what the future holds, but I will always be a Wildcat. Bear Down.” Earlier this year, Christensen reached the round of 32 at the U.S. Amateur after upsetting No. 2-ranked Gordon Sargent. Christensen earned second-team All-Pac-12 honors last season after winning multiple tournaments , including the Jackson T. Stephens Cup and the Arizona Thunderbirds Intercollegiate. In 2023, Christensen qualified for and played in The Open Championship. He began his college career at Oklahoma State before transferring to Arizona midway through the 2022-23 season. Contact sports reporter/columnist Michael Lev at mlev@tucson.com . On X (Twitter): @michaeljlev. On Bluesky: @michaeljlev.bsky.social Respond: Write a letter to the editor | Write a guest opinion Subscribe to stay connected to Tucson. A subscription helps you access more of the local stories that keep you connected to the community. Be the first to know Get local news delivered to your inbox! Sports Reporter/Columnist
timandtim On the surface, Innovative Industrial Properties, Inc. ( NYSE: IIPR ) and Plymouth Industrial REIT, Inc. ( NYSE: PLYM ) are quite similar. Industrial real estate investment trusts, or REITs Discounted adjusted funds from operations, or AFFO, multiples relative to the rest of the industrial sector Enticing dividend yields. Yet, we are bullish on PLYM and bearish on IIPR . As value investors, the extremely low AFFO multiples appeal to us, but value alone does not create a total return. Business models need to be durable such that earnings will grow over time. We believe PLYM passes this test and IIPR does not. The difference comes in acquisition strategy and the way properties are leased. Any acquisition looks good when it is cash flowing, but the real test of a REIT’s strategy is in times of struggle. Both IIPR and PLYM have experienced some tenant difficulties lately, affording an opportunity to stress test the companies. The fundamental outcomes of each company’s leasing events show a large quality gap between the discounted industrial REITs. IIPR’s Tenant Difficulties PharmaCann defaulted on its leases with IIPR. As IIPR’s largest tenant at 17% of rental revenues, it is a fairly sizable hit. IIPR Other tenants are struggling to pay rent as well, with IIPR dipping into security deposits from TILT Holdings, 4Front Ventures, and Emerald Growth to cover their rent. Per the 10-Q : “For the three months ended September 30, 2024, we applied $1.4 million of security deposits for payment of rent on properties leased to 4Front Ventures Corp. (“4Front”) (four properties), TILT Holdings Inc. (“TILT”) (one property), and Emerald Growth Holdings LLC (“Emerald Growth”) (one property). A lease was terminated with Temescal Wellness and IIPR retook possession of the property, also per the 10-Q: “We terminated our lease with Temescal Wellness of Massachusetts, LLC at our Massachusetts property and regained possession of the property on September 30, 2024. For the three months ended September 30, 2023, we applied $2.2 million of security deposits for payment of rent.” Rent collection continues to struggle post Q3 2024, with more of it being paid from security deposits: “Subsequent to September 30, 2024, we applied $0.9 million in security deposits for the properties leased to 4Front, TILT and Emerald Growth for the payment of rent owing in October 2024, and, including those security deposits applied, we collected $1.4 million of the contractually due rent and interest of $2.2 million for the month of October 2024 for 4Front, Emerald Growth, TILT and a secured loan for which we are the lender for a California property portfolio.” These security deposits will be depleted, at which point we believe the rent will become delinquent. We find 2 aspects of the poor rent collection troubling: It represents a large portion of their portfolio. PharmaCann is 17% of rental income alone, and some of their other significant tenants are struggling. The prospects for replacing that revenue look weak. Allow me to elaborate on the 2 nd point because I think that is the true weakness of IIPR’s business model. Tenant defaults are fairly common among REITs. Think of something as simple as an apartment tenant defaulting on their monthly rent. This sort of thing happens quite routinely, and it is so routine that the chance of occurrence is actually factored into the underwriting of property acquisitions. When the tenant defaults, the landlord kicks them out and finds a new tenant. Assuming the tenant was paying a normal amount, rent from the new tenant would be roughly the same. Perhaps the landlord loses out on a few months of rent during the transition, but overall, it is not that big of a deal. IIPR’s problem is that its tenants are not paying a normal amount of rent. The company reports 2025 annual base rent (ABR) of $310.8 million, which allows us to run various calculations on its leases. IIPR Annual rent totals a whopping 13.68% of enterprise value. A company could theoretically get to that level by its stock price getting cheap, but that is not the case here. Sure, IIPR crashed on the PharmaCann default announcement, but over a longer period of time, the stock price is up quite considerably. SA Normal cap rates for industrial REITs are around 4%-9% depending on the vintage of the lease and various property quality factors. Thus, rent being over 13% of EV is quite strange. The extremely high rent as a percentage of EV is due to going in cap rates in the mid-teens. We previously identified in the article linked earlier that IIPR’s high cap rates are the result of its leases being partially loans. Industrial buildings are quite cheap to build, often costing less than $100 per square foot. Yet, IIPR’s enterprise value per foot is $267. High EV/foot could be due to IIPR’s stock trading at a bloated valuation, but that is clearly not the case here with an 8.5X AFFO multiple. See, the way most REITs work is that the REIT invests in the building and then the tenant pays rent to use that building. IIPR does things a bit differently. It owns the building, but a substantial portion of its investment is directly with the tenant. IIPR gives its tenants millions of dollars to be used for property improvements in exchange for higher rental rates and longer lease terms. They have been doing this since IPO and are still doing it with recent announcements in its 10-Q. In fact, as recently as February, IIPR invested an additional $16 million in PharmaCann, the now defaulting tenant. “In February 2024, we amended our lease and development agreement with PharmaCann at one of our New York properties, increasing the construction funding commitment by $16.0 million, which also resulted in a corresponding adjustment to the base rent for the lease at the property. We also amended the lease to extend the term.” In April, they provided a similar tenant allowance to Battle Green Holdings: “In April 2024, we amended our lease with a subsidiary of Battle Green Holdings LLC at one of our Ohio properties to provide an additional improvement allowance of $4.5 million, which also resulted in a corresponding adjustment to the base rent for the lease at the property.” Also in April, IIPR provided an additional $1.6 million to 4Front in exchange for higher rents. “In April 2024, we amended the lease with a subsidiary of 4Front at one of our Illinois properties to provide an additional improvement allowance of $1.6 million, which also resulted in a corresponding adjustment to the base rent for the lease at the property and increased the annual base rent escalations for the remainder of the lease term.” That is the same 4Front that is now only covering its rent by dipping into security deposits. Perhaps one could technically classify these as property investments because the funds given to tenants are earmarked to improve the properties. However, I consider it to be the financial equivalent of investing in tenants in the form of loans with interest payments and principal to be paid back to IIPR through higher rent over the lease term. The result of all this investment in tenant improvement is that IIPR’s rent per foot has gotten to a whopping $36.53. 2MC That is an insane level of rent for industrial properties. As a point of comparison, Rexford Industrial Realty ( REXR ) has rent per foot of $16.23 and their portfolio consists almost exclusively of class A+ real estate in the highly dense Inland Empire. S&P Global Market Intelligence In comparison, IIPR’s properties are in the middle of nowhere. S&P Global Market Intelligence I love the Midwest, but property values in Michigan are a fraction of property values in the port of Los Angeles. So, IIPR’s rent per foot of $36.53 is absolutely insane compared to Rexford at $16.23. Rents are high to essentially pay IIPR back for the tenant allowances that IIPR pays the tenants. That works out great when the leases go to full term. It is a disaster when leases end early, such as the PharmaCann default, a few other defaults recently, and the slew of tenants currently struggling to pay rent. The problem for IIPR is that, unlike that apartment landlord who just finds a new tenant at the same rent, a new tenant’s rent is likely to be closer to $8 a foot. If they are lucky, a cannabis-related tenant would be able to use the tenant improvements installed in the buildings and could potentially pay $16 a foot. I just don’t see any realistic scenario in which a replacement tenant pays anywhere close to $36 a foot. IIPR is looking at either substantial vacancies or large cuts in rent when replacement tenants are found. So while the stock is cheap, trading at a very low multiple relative to the industrial sector, I think the fundamental downside makes it cheap for a reason. S&P Global Market Intelligence Plymouth Industrial is similarly discounted at a 9.7X AFFO multiple. It, too, has had tenant troubles with 2 recent tenant defaults on rent. This valuation would indicate that the market thinks Plymouth will also suffer a fundamental downside resulting from these defaults. Indeed, PLYM stock has been clobbered since the tenant lease defaults were announced on November 6 th . SA This, in my opinion, is incorrect. The fundamental impact of PLYM’s tenant issues is entirely different for 2 reasons: These tenants were quite a small slice of PLYM’s revenue PLYM has a different business model in which they invest exclusively in the real estate, not the tenant. We tabulated IIPR's vitals earlier and PLYM’s are below. 2MC There are some considerable differences worth pointing out. PLYM’s enterprise value per foot is $52.44 compared to $267 for IIPR. Part of this is PLYM stock trading cheaply, but most of it is that PLYM’s acquisition criteria involves purchasing properties below replacement cost. It is not feasible to build warehouses of reasonable quality today for $52.44 a foot. Perhaps the more pertinent difference is that PLYM’s rent per foot is $4.79. That is well below market rent for industrial real estate of the quality (usually class B) and location of PLYM’s properties. Rent per foot varies throughout PLYM’s portfolio by vintage of lease and the particular property with which it is associated. In the most recent quarter, PLYM had some of its lower rent leases expire at $4.14 per foot and signed new tenants at $5.27 per foot. Supplemental That is a 27% increase, and I think quite indicative of the rest of the portfolio in terms of existing rents being below market. Below-market rent is a make-or-break when it comes to tenant issues. When an above-market rent tenant fails as was the case with IIPR, rent comes back down to market and that is in the favorable outcome where a new tenant is found. When a below-market rent tenant fails, it is almost an opportunity. It allows the REIT to accelerate marking that rent to market. That is what happened with PLYM’s vacancies. We discussed the replacement of PLYM’s defaulted tenants on our portfolio update on Portfolio Income Solutions. “Digging into the content of {Plymouth’s} the 3Q24 call, both vacancies have already been replaced with new tenants at equal or higher rent. Thus, it is clearly not a demand issue and the financial hit to PLYM will be limited to the roughly 6 month window between the previous tenant leaving and rent of the new tenant commencing.” Anthony Saladino, PLYM’s CFO, confirmed on the Q3 2024 earnings call that the replacement tenant is paying higher rent than the tenant that defaulted. “We sourced, identified and fully negotiated with a new tenant at a 27% positive spread to expiring rents” That is a night and day different outcome than IIPR. PLYM will have a few months of vacancy followed by a larger cash flow stream. That is the result of good asset underwriting and a business model that focuses on good real estate. IIPR will have either a long-term vacancy or a new tenant that pays a fraction of the rent of the previous tenant. Most of the capex IIPR spent on PharmaCann and the other struggling tenants could be lost, and AFFO/share is likely to suffer as rent gets marked to market. The Bottom Line As value investors, we have to choose carefully. PLYM is a strong industrial REIT that happens to be trading at a discounted AFFO multiple and well below NAV. IIPR is cheap for a reason. REITs are cheap relative to the broader market making it a great time to get in to the right REITs. To help people get the most updated REIT data and analysis I am offering 40% off Portfolio Income Solutions, but you can only get it through this link. https://seekingalpha.com/affiliate_link/40Percent I hope you enjoy the plethora of data tables, sector analysis and deep dives into opportunistic REITs. Dane Bowler is the Chief Investment Officer and a registered investment adviser at the 2nd Market Capital Advisory Corporation. He has over a decade of experience running a proprietary portfolio with a specialization in REITs. On-site property tours and critical analysis of REIT management help inform his selection process. Dane leads the investing group Portfolio Income Solutions along with Simon and Ross Bowler. Features of the service include: a diversified high-yield REIT portfolio, data tables on every REIT, tax guidance, macro analysis, fair value estimates, and quick updates via chat on breaking news. Learn More . Analyst’s Disclosure: I/we have a beneficial long position in the shares of PLYM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. All articles are published and provided as an information source for investors capable of making their own investment decisions. None of the information offered should be construed to be advice or a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person.The information offered is impersonal and not tailored to the investment needs of any specific person. Readers should verify all claims and do their own due diligence before investing in any securities, including those mentioned in the article. NEVER make an investment decision based solely on the information provided in our articles.It should not be assumed that any of the securities transactions or holdings discussed were profitable or will prove to be profitable. Past Performance does not guarantee future results. Investing in publicly held securities is speculative and involves risk, including the possible loss of principal. Historical returns should not be used as the primary basis for investment decisions.Commentary may contain forward looking statements which are by definition uncertain. Actual results may differ materially from our forecasts or estimations, and 2MC and its affiliates cannot be held liable for the use of and reliance upon the opinions, estimates, forecasts, and findings in this article.S&P Global Market Intelligence LLC. Contains copyrighted material distributed under license from S&P2nd Market Capital Advisory Corporation (2MCAC) is a Wisconsin registered investment advisor. Dane Bowler is an investment advisor representative of 2nd Market Capital Advisory Corporation. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Share Tweet Share Share Email Intel has welcomed Eric Meurice and Steve Sanghi to the board of directors. Takeaway Points Intel welcomes Eric Meurice and Steve Sanghi to the board of directors. Both will serve as independent directors. Sanghi is chair of the board of Microchip Technology and recently agreed to serve as interim chief executive officer and president. He formerly led Microchip Technology as CEO from 1991 to 2021. Meurice served as president and chief executive officer of ASML from 2004 to 2013. During his tenure, ASML’s market value increased five-fold. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Who did Intel welcome? Intel Corporation on Thursday announced that it has appointed Eric Meurice, former president, chief executive officer, and chairman of ASML Holding N.V., and Steve Sanghi, chairman and interim chief executive officer of Microchip Technology Inc., to Intel’s board of directors, effective immediately. Both will serve as independent directors. Frank D. Yeary, interim executive chair of the Intel board, commented, “Eric and Steve are highly respected leaders in the semiconductor industry whose deep technical expertise, executive experience and operational rigor make them great additions to the Intel board. As successful CEOs with proven track records of creating shareholder value, they will bring valuable perspectives to the board as the company delivers on its priorities for customers in Intel Products and Intel Foundry, while driving greater efficiency and improving profitability.” Steve Sanghi, chairman and interim chief executive officer of Microchip Technology Inc., said, “I am excited to lend my experience and perspective as Intel executes one of the most consequential corporate transformations in decades. Intel is well-positioned to capitalize on attractive opportunities across its product and foundry businesses, and I’m eager to work with the board and management team to deliver on the goals the company has set.” The History of the Newly Appointed According to Intel, Sanghi is chair of the board of Microchip Technology and recently agreed to serve as interim chief executive officer and president. He formerly led Microchip Technology as CEO from 1991 to 2021, making him one of the longest-serving CEOs of a semiconductor company. Under his leadership, Microchip Technology achieved 121 consecutive quarters of profitability. He took the company from a market value of approximately $10 million to a market value of approximately $44 billion over his tenure of 30 years. Meurice served as president and chief executive officer of ASML from 2004 to 2013. During his tenure, ASML’s market value increased five-fold. He was also instrumental in establishing ASML’s Customer Co-Investment Program, under which Intel and others agreed to invest in ASML’s research and development of next-generation lithography technologies, including extreme ultraviolet (EUV) lithography, the company said. About Intel Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge, and every kind of computing device, we unleash the potential of data to transform business and society for the better. Related Items: Eric Meurice , Intel , Steve Sanghi Share Tweet Share Share Email Recommended for you Intel’s Former CEO To Receive About $12 Million Payout Intel Board Lose Confidence: CEO Gelsinger Forced Out Of Seat Indian Regulator Rejects Apple Request To Halt Antitrust Investigation Comments
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