Intel Corporation (INTC) And Its $300M Push For Diversity

Intel Corporation (NASDAQ:INTC)’s CEO, Brian Krzanich, says that his company, despite being one of the best tech companies to work for, recognizes the lack of diversity in the technology industry and as a result, it will be committing $300 million in a program called the Diversity in Technology Initiative to remedy this problem.

The announcement was made by the Intel Corporation (NASDAQ:INTC) boss at this year’s Consumer Electronics Show in Las Vegas where he also talked about new technologies including RealSense which furthers the Internet of Things landscape.

“I’m announcing our intention to lead by example. I invite the entire tech industry to join us,” Krzanich announced.

During his keynote address, the top executive at Intel Corporation (NASDAQ:INTC) promised that the silicon giant will be fully represented at all levels by 2020. His announcement of the $300 million investment in diversity in the workplace is the biggest investment yet of any technology company about the issue.

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Krzanich noted that several events in the technology space has brought this issue to the forefront, including events in the gaming community and increasing transparency from tech companies in the past year. Other major technology behemoths have released diversity reports in 2014 which highlighted how their workforces were lacking in diversity.

Saying in his address that the push for diversity is not just good business but is the “right” thing to do, Krzanich said that: “It’s not good enough to say we value diversity and then to have our work places and our industry not reflect the full availability and talent pool of women and underrepresented minorities.”

With its very substantial investment in the move to solve the diversity issue in the technology industry, Intel Corporation (NASDAQ:INTC) hopes that other companies will follow suit and hold themselves accountable to progress being made in this area.

Ross Margolies’ Stelliam Investment Management reported owning about 5.09 million Intel Corporation (NASDAQ:INTC) shares by the end of September.