Intel Corporation has announced the appointment of Lip-Bu Tan as its new Chief Executive Officer. Tan succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He will also rejoin Intel’s board of directors after stepping down in August 2024. Frank D. Yeary, Interim Executive Chair of the Board expressed confidence in Tan’s ability, stating, “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. Throughout his long and distinguished career, he has earned a reputation as an innovator who puts customers at the heart of everything he does.”
Tan brings more than 20 years of experience in the semiconductor and software industries. He previously served as CEO of Cadence Design Systems from 2009 to 2021, where he led a successful transformation that significantly increased revenue and market value. Tan is also the Founding Managing Partner of Walden Catalyst Ventures and serves on the Boards of Credo Technology Group and Schneider Electric. In his statement, Tan expressed his commitment to strengthening Intel’s position in the industry and advancing its technology roadmap.
