Intel Names Lip-Bu Tan as New CEO, Leveraging His Deep Semiconductor Industry Expertise
Intel Corporation has officially announced via its newsroom the appointment of Lip-Bu Tan as its new CEO, effective March 18, succeeding interim Co-CEOs David Zinsner and Michelle Johnston Holthaus. Tan, who previously served as CEO of Cadence Design Systems from 2009 to 2021, brings extensive semiconductor industry experience and a proven track record of creating substantial shareholder value.
Tan’s appointment is seen as pivotal for Intel, a company striving to regain its footing in a highly competitive semiconductor landscape. He will rejoin Intel's board of directors, having stepped down previously in August 2024. Under his leadership, Intel aims to emphasize product excellence, customer-centric innovation, and operational accountability.
In his first official statement as CEO, Lip-Bu Tan underscored the necessity of strategic assessment and decisive action to regain market leadership:
“We cannot take anything for granted, and we will do regular deep dives to assess our progress. In areas where we have momentum, we need to double down and extend our advantage. In areas where we are behind the competition, we need to take calculated risks to disrupt and leapfrog. And in areas where our progress has been slower than expected, we need to find new ways to pick up the pace.”
A Semiconductor Veteran Takes the Helm
Lip-Bu Tan is highly regarded in the tech industry, known particularly for his tenure at Cadence, where he spearheaded significant cultural and operational transformations, more than doubling the company's revenue and substantially boosting its stock value by over 3,200%. His leadership style, marked by an intense focus on customer relationships and innovation, is anticipated to usher Intel into a new phase of growth and renewed competitiveness.
Intel's Board Chair, Frank D. Yeary, expressed strong confidence in Tan’s ability, noting:
“Lip-Bu is an exceptional leader whose technology industry expertise, deep relationships across the product and foundry ecosystems, and proven track record of creating shareholder value is exactly what Intel needs in its next CEO.”
Building Intel’s Future
Tan’s vision includes leveraging Intel’s extensive existing resources, robust manufacturing capabilities, and growing process technology roadmap to better serve customers. His immediate focus will be on rebuilding Intel’s technological leadership and successfully executing on its ambitious foundry strategy.
Outgoing interim CEOs David Zinsner and Michelle Johnston Holthaus will continue their roles at Intel as CFO and CEO of Intel Products, respectively. Frank Yeary will resume his role as independent chair of Intel's board.
Lip-Bu Tan holds advanced degrees in Physics, Nuclear Engineering, and Business Administration from prestigious institutions including Nanyang Technological University in Singapore, MIT, and the University of San Francisco. He was awarded the Robert N. Noyce Award in 2022, the highest honor bestowed by the Semiconductor Industry Association.
We'd love to hear your thoughts on Intel’s new direction under Lip-Bu Tan. Do you think Intel can reclaim its semiconductor leadership? Share your views below!
