Intel has appointed Lip-Bu Tan as its new Chief Executive Officer, bringing in a well-known figure in the semiconductor industry.
The announcement was made on Wednesday, marking a leadership change at the tech giant.
Tan takes over from interim co-CEOs David Zinsner and Michelle Johnston Holthaus.
While Zinsner will continue as Intel’s Chief Financial Officer, Holthaus will remain the head of the Intel Products division.
Along with his new role, Tan will also return to Intel’s board of directors, a position he left in August 2024.
Originally from Malaysia, Tan has built a strong reputation in the technology and investment sectors.
He was previously the CEO of Cadence Design Systems and has experience managing energy firms like EDS Nuclear and ECHO Energy.
In 1987, he founded Walden International, a venture capital firm focused on tech investments.
With deep connections in the industry, Tan serves on the boards of Hewlett Packard Enterprise, Schneider Electric, and SoftBank.
His leadership is well-regarded in business circles, and Intel’s stock surged by about 11% in after-hours trading following the announcement.
In his first remarks as CEO, Tan stated that Intel will focus on engineering, aiming to develop high-quality products while keeping customers at the center of its strategy.
He also stressed the importance of delivering results for shareholders as part of the company’s broader goals.
