Lip-Bu Tan becomes CEO of Intel
Intel has appointed a new CEO at a difficult time for the company. On 18 March, Lip-Bu Tan will take over as CEO and replace interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus.
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They took over the company after the unexpected departure of Pat Gelsinger at the end of last year.
"Intel has a powerful and unique platform, a broad customer base, and a strong manufacturing infrastructure that is being strengthened every day. I am excited to join the company and build on the team's achievements to prepare the business for the future," Tan said.
Along with his new position, he will also return to Intel's board of directors, from which he stepped down in August 2024. Officially, Tan explained his departure by personal reasons, but sources said that he was not satisfied with the company's overly cautious strategy.
Lip-Bu Tan is an experienced semiconductor and software specialist. He was the CEO of Cadence Design Systems for more than 10 years and a member of the company's board of directors for 19 years. He is also an investor and founder of Walden Catalyst Ventures.
Intel is going through a challenging period following problems with its processors and large-scale staff reductions. The appointment of a new CEO is an important step, but it is unlikely to be enough to fully restore the company.
In January, the company announced that it would not launch the Falcon Shores chip, which was planned to work with artificial intelligence and high-performance computing.
Source: Intel
