Intel has appointed Lip-Bu Tan as its new chief executive officer. He takes office on March 18, 2025.
Lip-Bu Tan is a semiconductor industry veteran who served on the board of directors of Intel from 2022 to August 2024, when he left allegedly due to disagreements over the strategic direction of the company’s development, and will now rejoin the company.
«Lip-Bu is an exceptional leader whose technology industry experience, deep connections in the product and lithography ecosystems, and proven track record of creating value for shareholders — is exactly what Intel needs in its next CEO», — said Frank D. Erie, Chairman of Intel.
Tan has decades of leadership experience — he was CEO of Cadence Design Systems between 2009 and 2021. During his tenure, he focused on customer-centric innovation and cultural transformation of the company, leading to more than doubling of revenue and significant margin growth.
During his time at Cadence, Tan has built relationships with the entire semiconductor industry. This is good news for the company, as he should understand both the needs of the product department and Intel production problems. In his speech, he mentioned Intel products and the needs of existing customers, as well as the importance of developing a roadmap for technological processes, which could mean keeping Intel Foundry as part of the company.
«I am honored to join Intel as CEO. I have the utmost respect and admiration for this iconic company, and I see significant opportunities to transform our business in ways that better serve our customers and create value for our shareholders. Intel has a powerful and differentiated computing platform, a huge customer base, and a strong manufacturing footprint that is getting stronger every day as we reshape our process technology roadmap. I am very much looking forward to joining the company and building on the work of the entire Intel team, positioning our business for the future,» said Lip-Bu Tan.
Traditionally, Intel has been led by executives with an engineering background. The only exception was Paul Otellini, who had a business background and was appointed CEO in the mid-2000s. The new CEO is no stranger to both worlds. Lip-Bu Tan is a well-known investment businessman, whose investment company Walden International supports businesses and startups in the semiconductor, alternative energy, and digital media industries in the United States and Asia. Investments include Ambarella, Creative Technology, S3 Graphics, and Sina Corp. the owner of the Chinese social network Weib.
Lip-Boo Tan holds a Bachelor of Science degree in Physics from the Nanyang Technological University in Singapore, a Master of Science degree in Nuclear Engineering from the Massachusetts Institute of Technology, and a Master of Business Administration degree from the University of San Francisco.
Source: Tom’s Hardware
Spelling error report
The following text will be sent to our editors: