Intel Appoints Lip-Bu Tan as New CEO

Intel Names Lip-Bu Tan as New Chief Executive Officer

Intel has announced the appointment of Lip-Bu Tan, a prominent leader within the semiconductor sector, to the position of CEO. The announcement was made late Wednesday by the company.

Mr. Tan will be taking over from the interim co-CEOs, David Zinsner and Michelle Johnston Holthaus. He is also scheduled to resume his position on the Intel board of directors, having previously stepped down in August 2024.

Leadership Roles and Responsibilities

David Zinsner will continue to serve as Intel’s Chief Financial Officer. Michelle Johnston Holthaus will retain her role as CEO of the Intel Products division.

Prior to this appointment, Tan held the position of CEO at Cadence Design Systems, bringing with him extensive experience in the technology industry.

Tan’s Background and Industry Connections

Born in Malaysia, Tan has a long and distinguished career as a technology investor. Before establishing Walden International, a venture capital firm in 1987, he managed operations at EDS Nuclear and ECHO Energy.

He also served as a partner with the Walden USA investment fund. Tan maintains significant influence within the tech world, currently serving as a board member for Hewlett Packard Enterprise, Schneider Electric, and SoftBank.

His reputation as a successful business leader is widely recognized. Following the announcement of his appointment, Intel’s stock experienced a substantial increase of approximately 11% during after-hours trading.

Vision for Intel’s Future

In a released statement, Tan articulated his vision for Intel, emphasizing a commitment to engineering excellence.

“Under my leadership, Intel will be an “engineering-focused company,” he stated. The company will prioritize the development of superior products and maintain close communication with its customer base.

Accountability and trust-building will also be central to the company’s operations. Tan further emphasized the importance of delivering value to shareholders, viewing it as a natural consequence of a renewed focus on customer needs.

“We also have a responsibility to deliver for our shareholders — something I am equally focused on and expect will be an outcome of our renewed focus on customers,” he concluded.