Intel appoints Tan Lip-Bu as new CEO

straitstimes.com

Intel has appointed Tan Lip-Bu as its new CEO, effective March 18. Tan, a semiconductor veteran and former board member, replaces Pat Gelsinger, who was ousted for failing to revitalize Intel's product lineup amid increasing competition. Tan faces significant challenges, including restoring Intel's market share and addressing manufacturing issues. The company has seen a decline in earnings and recently cut 15,000 jobs. Intel's stock rose over 10% following the announcement. Tan aims to enhance Intel's position in the chip industry and continue efforts to transform it into a leading foundry. He previously led Cadence Design Systems, where he significantly increased revenue and stock value.


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Intel appoints Tan Lip-Bu as new CEO | News Minimalist