Lip-Bu Tan Named Intel CEO to Lead Turnaround Efforts

The seasoned semiconductor veteran and former Cadence CEO takes over as Intel faces significant challenges in AI and chip manufacturing.

Lip-Bu Tan, former CEO of Cadence Design Systems, will officially assume the role of Intel CEO on March 18, succeeding interim co-CEOs David Zinsner and Michelle Johnston Holthaus.
Intel's stock surged over 11% following the announcement, reflecting investor optimism about Tan's leadership and his track record of driving shareholder value.
Tan inherits a company grappling with a $19 billion loss in 2024, delayed manufacturing projects, and struggles to compete in the AI chip market dominated by Nvidia.
As CEO, Tan aims to focus on engineering, customer satisfaction, and calculated risks to restore Intel's competitive edge in both chip design and manufacturing.
Intel's board highlighted Tan's deep industry connections and extensive experience in semiconductors as key assets for navigating the company's turnaround.