Intel has appointed Lip-Bu Tan as its new CEO, effective 18 March 2025. He will succeed the current interim co-CEOs, David Zinsner and Michelle (MJ) Johnston Holthaus. Following his appointment, Tan will also rejoin the Intel board after having stepped down in August 2024.
Zinsner will retain his position as executive vice president and CFO, while Johnston Holthaus will continue as CEO of Intel Products. Frank Yeary, who has been acting as interim executive chair during the CEO search, will return to his role as independent chair of the board once Tan officially takes over as CEO.
Tan’s appointment comes three months after the firm announced the resignation of CEO Pat Gelsinger, ousted by a board no longer confident in his much-vaunted turnaround strategy for the once-dominant chipmaker.
“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,” said Yeary. “Throughout his long and distinguished career, he has earned a reputation as an innovator who puts customers at the heart of everything he does, delivers differentiated solutions to win in the market and builds high-performance cultures to achieve success.”
“I am honoured to join Intel as CEO. I have tremendous respect and admiration for this iconic company, and I see significant opportunities to remake our business in ways that serve our customers better and create value for our shareholders,” said Tan on his appointment.
Tan brings over two decades of experience in technology sector
Tan has a significant background in the technology sector, particularly in semiconductors and software, with over 20 years of experience. He previously served as CEO of Cadence Design Systems from 2009 until 2021, where he led initiatives that focused on innovation centred around customer needs.
In addition to his role at Cadence, Tan was a member of the company’s board of directors for 19 years, from 2004 until he became executive chairman in 2021, a position he held until 2023. He is also a founding managing partner at Walden Catalyst Ventures and chairs Walden International. Currently, he serves on the boards of Credo Technology Group and Schneider Electric.
Tan holds a Bachelor of Science degree in physics from Nanyang Technological University in Singapore, a Master of Science in nuclear engineering from the Massachusetts Institute of Technology, and an MBA from the University of San Francisco. He received the Robert N. Noyce Award in 2022, which is said to be the highest honour awarded by the Semiconductor Industry Association.
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