The Board oversees, counsels, and directs management in the long-term interests of the company and our stockholders. The Board's responsibilities include:

• selecting and evaluating the performance of the CEO and other senior executives;
• planning for succession with respect to the position of CEO and monitoring management's succession planning for other senior executives;
• reviewing and approving our major financial objectives and strategic and operating plans and other significant actions;
• overseeing the conduct of our business and the assessment of our business risks to evaluate whether the business is being properly managed; and
• overseeing the processes for maintaining our integrity with regard to our financial statements and other public disclosures, and compliance with law and ethics.

The Board believes that different people should hold the positions of Chairman of the Board and CEO to aid in the Board's oversight of management. In May 2008, the Board designated Dr. Shaw as our Lead Independent Director. We anticipate that Dr. Shaw will become Chairman of the Board beginning in May 2009. The duties of non-executive Chairman of the Board include:

• presiding over all meetings of the Board;
• preparing the agenda for Board meetings with the Corporate Secretary and in consultation with the CEO and other members of the Board;
• calling and presiding over meetings of the independent directors;
• managing the Board's process for annual director self-assessment and evaluation of the Board; and
• presiding over all meetings of stockholders.

The Board and its committees met throughout the year on a set schedule, held special meetings, and acted by written consent from time to time as appropriate. The Board held four regularly scheduled sessions for the independent directors to meet without management present, and the Lead Independent Director led those sessions in 2008. Dr. Shaw will lead these sessions in her capacity as Chairman of the Board following the annual meeting. Board members have access to all of our employees outside of Board meetings, and the Board has a program that encourages each director to visit different Intel sites and events worldwide on a regular basis and meet with local management at those sites and events.