Intel Corporation has announced the appointment of Lip-Bu Tan as its new Chief Executive Officer, effective March 18.
Tan, a distinguished technology leader with extensive semiconductor industry experience, will succeed Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus.
He will also rejoin Intel board of directors, having previously stepped down in August 2024. Zinsner will continue as Executive Vice President and Chief Financial Officer, while Johnston Holthaus will remain CEO of Intel Products.
Additionally, Frank D. Yeary, who temporarily served as interim executive chair during the CEO search, will return to his role as independent chair of the board.
Leadership Endorsement and Strategic Vision
Frank D. Yeary expressed confidence in Tan’s leadership, highlighting his deep industry expertise, strong customer relationships, and ability to drive shareholder value. “Lip-Bu is an exceptional leader who prioritizes innovation, fosters high-performance cultures, and focuses on delivering differentiated solutions,” said Yeary.
Tan acknowledged the significance of his new role, stating, “I am honored to join Intel as CEO. I see immense opportunities to reshape our business to better serve customers and create shareholder value.”
He emphasized Intel’s strong computing platform, vast customer base, and expanding manufacturing footprint, which he aims to further strengthen.
Recognizing Interim Leadership and Business Transformation
Yeary extended gratitude to Zinsner and Johnston Holthaus for their leadership during the transition.
He credited them for providing stability and discipline while Intel worked on enhancing execution, rebuilding product leadership, advancing its foundry strategy, and regaining investor confidence.
Tan’s leadership history reflects a strong record of transformation. As CEO of Cadence Design Systems from 2009 to 2021, he spearheaded a cultural shift focused on customer-driven innovation.
Under his leadership, Cadence more than doubled its revenue, expanded operating margins, and saw a remarkable stock price appreciation of over 3,200%.
Tan’s Experience and Industry Contributions
Tan brings over two decades of semiconductor and software industry experience. Beyond Cadence, he has played key roles in technology investment, serving as a founding managing partner of Walden Catalyst Ventures and chairman of Walden International.
He currently sits on the boards of Credo Technology Group and Schneider Electric. Tan holds a Bachelor of Science in Physics from Nanyang Technological University, a Master of Science in Nuclear Engineering from MIT, and an MBA from the University of San Francisco.
In 2022, he was honored with the Robert N. Noyce Award, the Semiconductor Industry Association’s highest recognition.
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