Intel, a US-based technology company, has appointed Lip-Bu Tan as its new Chief Executive Officer, effective 18 March.
Tan, a seasoned technology leader with extensive experience in the semiconductor industry, succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus.
Tan will also rejoin Intel’s board of directors after stepping down in August 2024.
Zinsner will continue in his role as Executive VP and Chief Financial Officer, while Johnston Holthaus will remain CEO of Intel Products.
Tan will also rejoin Intel’s board of directors after stepping down in August 2024
Frank D. Yeary, who served as interim Executive Chair during the leadership transition, will revert to his role as independent chair of the board once Tan takes office.
Yeary said: “Lip-Bu is an exceptional leader whose technology expertise, deep relationships across the product and foundry ecosystems, and track record of creating shareholder value make him the ideal choice for Intel’s next CEO. Throughout his distinguished career, he has demonstrated a commitment to customer-driven innovation and building high-performance cultures.”
Yeary also extended his gratitude to Zinsner and Johnston Holthaus for their leadership during the transition, acknowledging their role in maintaining stability and driving Intel’s ongoing strategy.
Tan, said: “I am honoured to join Intel as CEO. I have long admired this iconic company and see significant opportunities to reshape our business to better serve customers and create value for shareholders.
“Intel has a powerful and differentiated computing platform, a vast installed customer base, and a strengthening manufacturing footprint. I am eager to build upon the work already underway to position Intel for long-term success.”
Intel has positioned Tan’s leadership as a pivotal moment in its strategy to accelerate growth and innovation
Tan brings over two decades of experience in semiconductors and software, alongside strong ties within Intel’s ecosystem.
Tan previously served as CEO of Cadence Design Systems from 2009 to 2021, leading a significant transformation that saw the company more than double its revenue and achieve a stock price increase of over 3,200%.
In addition to his executive roles, Tan has served on the boards of several technology firms, including Credo Technology Group and Schneider Electric. He is also a founding managing partner of Walden Catalyst Ventures and chairman of Walden International.
Tan holds a Bachelor of Science in Physics from Nanyang Technological University in Singapore, a Master of Science in Nuclear Engineering from the Massachusetts Institute of Technology, and an MBA from the University of San Francisco.
Tan brings over two decades of experience in semiconductors and software
His contributions to the semiconductor industry were recognised in 2022 when he received the prestigious Robert N. Noyce Award from the Semiconductor Industry Association.
Intel has positioned Tan’s leadership as a pivotal moment in its strategy to accelerate growth and innovation.
The company remains focused on rebuilding its process technology roadmap and strengthening its manufacturing capabilities.
Industry analysts will be watching closely to see how Tan’s leadership shapes the future direction of the tech giant.