It is shocking that for a 50000 employee organization, there is no leadership bench after SA and they had to pick MM out of semi-retirement to lead TD - MM has no expertise leading a large and complex development org like TD. Look under LTD top management layer and you will see again that there are no strong managers that have outside experience and understands the foundry competitive landscape. With the current leadership team, LTD has little hope and is dying a slow death.
Intel will be forced to move designs to TSMC and gradually spin off TMG.