Intel
Lip-Bu Tan becomes CEO
On March 12, the Intel Board of Directors appointed Lip-Bu Tan as the company's new CEO. He will take up the position on March 18, 2025 and is expected to put the struggling chip giant back on the road to success.
Tan takes over from David Zinsner and Michelle Johnston. Both had held the position on an interim basis since December 2, 2024 following the departure of Pat Gelsinger and are now returning to their old posts: Johnston is responsible for the product lines, Zinsner remains Chief Financial Officer.
Tan was a member of the chip giant's Board of Directors until August 2024. According to media reports, his withdrawal from the Board of Directors was due to differences of opinion with the then Intel CEO Gelsinger. Tan is now returning to Intel as CEO and is expected to turn the struggling chip giant around.
Tan is a longtime technology investor with over 20 years of experience in leadership positions in the semiconductor and software industries. He is also characterized by his deep relationships in the Intel environment. From 2009 to 2021, he was CEO of Cadence Design Systems and drove the company's transformation with a focus on customer-centric innovation. Under his leadership, Cadence more than doubled revenue, increased operating margins and realized a share price appreciation of more than 3200%.
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