Intel reveals its new CEO

Date:
Thu, 13 Mar 2025 10:48:00 +0000

Description:
Intel has gained a new CEO three months after Pat Gelsinger announced hed be leaving Lip-Bu Tan to take post.

FULL STORY ======================================================================Intels new CEO, Lip-Bu Tan, will step into office on March 18 The company must make calculated risks to catch up Interim CEOs will revert to their original positions

Three months after Intel CEO Pat Gelsinger announced that hed be stepping
down after a near-four-year stint, the chipmaker has confirmed its new
leader.

In an email to workers, Lip-Bu Tan revealed himself to be the companys new leader, detailing his aim to restore the companys world-class status by focusing on both product development and foundry services.

Tan will take post on March 18, 2025, but hes already previously served on Intels board something he gave up due to strategic disagreements, says Reuters . Lip-Bu Tan will serve as Intels new CEO

Tan promises an engineering-focused Intel and remains committed to
innovation. Intels innovation has been at the heart of so many world-changing breakthroughs along the way, he said.

He continued: I believe we have a truly unique opportunity to remake our company at one of the most pivotal moments in its history. Thats not to say
it will be easy. It wont be. But I am joining because I believe with every fiber of my being that we have what it takes to win.

At $89.2 billion, Intels market cap lags far behind key rivals like AMD ($163.6 billion) and Nvidia ($2.83 trillion). Lip-Bu said the company must take calculated risks to disrupt and leapfrog in areas of the business that are behind the competition.

Analysts are clearly happy with the new leadership, with shares shooting up 12% following the announcement to $23.21.

Tans background includes a 12-year stint as Cadence Design Systems CEO
between 2009 and 2021, where he delivered a stock price increase of more than 3,200%.

With the appointment of a new CEO, interim CEOs Michelle Johnston Holthaus
and Dave Zinsner will step back into CEO of Intel Products and company CFO respectively. You might also like Fancy a change? Here are the best job sites and best recruitment platforms Intel appoints two chip industry veterans to board, hunt for CEO continues Support your upskilling efforts with the best online learning platforms



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Link to news story:
https://www.techradar.com/pro/intel-reveals-its-new-ceo


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