Chip Veteran Lip-Bu Tan Becomes Intel’s New CEO

Lip-Bu Tan. Image: Intel

After an extensive search process, Intel has announced that Lip-Bu Tan will take over as the new CEO, effective March 18. He succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus, following Pat Gelsinger's announcement to step down after his tenure.

Tan brings over 20 years of experience in the semiconductor and software industries. Prior to this role, he served as the CEO of Cadence Design Systems, where he led the company from 2009 until 2021. Under his leadership, Cadence more than doubled its revenue, marking significant growth. Additionally, he is a founding managing partner of Walden Catalyst Ventures and chairs Walden International.

Notably, Tan will also rejoin the Intel board of directors, a position he left in August 2024.

Tan's appointment comes at a challenging time for Intel, which has faced historic stock declines and significant cost-cutting measures in recent years. Following the announcement of his new role, Intel's stock saw a slight increase.

Frank D. Yeary, who served as the interim executive chair of Intel's board during the CEO search, praised Tan as an exceptional leader who is "exactly what Intel needs". He highlighted Tan's long and distinguished career, describing him as an innovator who centers customers in his approach and fosters high-performance cultures.

In his address to Intel employees, Tan acknowledged the difficulties the company has experienced in recent years, stating, "It has been a tough few years for the company and its employees." He expressed his determination, saying he is never discouraged by challenges and is motivated to solve complex problems. He sees this moment as a unique opportunity for Intel to reinvent itself at a critical juncture in its history.

Tan outlined his vision, indicating that under his leadership, Intel will focus on engineering excellence. He aims to develop the best products, listen closely to customer feedback, and maintain accountability to foster trust within the organization.

Intel, CEO, Leadership