Intel has appointed company executive Andy Bryant to be vice chairman of the company's board, and he will likely take over as chairman next May, the chip maker said.

Bryant has worked at Intel for decades, most recently overlooking technology and manufacturing, IT, human resources and finance as the chief administrative officer. He will serve on the board alongside the current chairman, Jane Shaw, who is due to retire from the board next May.

"His deep knowledge of Intel and his unmatched wisdom will serve the company well," Shaw said in a statement.

Bryant joined Intel in 1981 as controller for the Commercial Memory Systems Operation and became the CFO in 1994. He was promoted to chief financial and enterprise services officer in 1999. In 2007, he stepped away from the post of CFO and was replaced by Stacy Smith, who is Intel's current CFO.

Intel's board now has 11 members, and Bryant is the second Intel employee to serve on the current board. Intel CEO Paul Otellini is also on the board of directors.