Intel Corp. has appointed Lip-Bu Tan as CEO of the company.
He follows the retirement of Pat Gelsinger from the company in December.
Tan, who has spent more than 20 years in the semiconductor field, follows co-interim CEOs David Zinsner and Michelle Johnston Holthaus. Tan will also rejoin the Intel board of directors after stepping down from the board in 2024.
Zinsner will remain executive VP and CFO and Johnston Holthaus will remain CEO of Intel Products.
“Intel has a powerful and differentiated computing platform, a vast customer installed base and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap,” Tan said. “I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future.”
Bone of contention
Tan said he plans to continue to pursue the American chipmaker’s turnaround after suffering numerous financial hardships. One of the biggest bones of contention is the semiconductor manufacturing business.
Intel originally got back into chipmaking due to the problems arising from COVID-19 pandemic and the widespread chip shortage that revealed the flaws in the aggregation of semiconductor manufacturing solely being isolated in Asia.
Since then, the company has struggled to fund the fabs it wants to build hitting numerous delays while also getting direct funding through the U.S. government from the CHIPS and Science Act.
Tan said he plans to continue Intel’s semiconductor manufacturing strategy, according to reports.
Prior experience
Tan formerly served as CEO of Cadence Design Systems from 2009 to 2021 where he doubled the revenue of the company and expanded its technology offerings. He has also been a member of the Cadence board of directors for 19 years.
Tan is also a founding managing partner of Walden Catalyst Ventures and chairman of Walden International.
