Intel Has a New CEO: Lip-Bu Tan Takes Up the Role at a Crucial Time for the Tech Company

Lip-Bu Tan will become Intel’s new CEO on March 18. He’s an experienced executive who was among the leading candidates following former Intel CEO Pat Gelsinger’s sudden departure. Tan will take over from David Zinsner and Michelle Johnston Holthaus, who have been leading the company as interims since December.

“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,” Frank Yeary, who temporarily led the board during the search for a new CEO, said in a press release.

A Strong Critic of Gelsinger to Be the New Intel CEO

Tan’s history with Intel dates back a few years. He was a vocal critic of Gelsinger’s management and the direction the company was taking. After serving as CEO of Cadence Design Systems, Tan joined Intel’s board in September 2022 to drive the semiconductor company’s restructuring plan.

However, tensions arose between Tan, Gelsinger, and other board members. According to Reuters, Tan believed that Intel had an oversized workforce and was losing agility in an increasingly dynamic market. He argued that the underlying problem wasn’t just the company’s size. According to Tan, Intel’s risk aversion was also an issue because it was causing it to fall behind competitors.

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Tensions escalated in October 2023 when Intel announced it would lay off more than 10,000 employees as part of its cost-cutting and efficiency-improvement measures. Tan disagreed with Gelsinger’s crisis management and strategic decisions and resigned from his board position.

Tan is now returning to take on the role of CEO. His appointment signifies a leadership change and a potential shift in Intel’s strategic direction. Tan aims to redefine the company’s future, enhance its competitiveness, and restore investor confidence.

According to Intel’s press release, Tan holds a bachelor’s degree in physics from Nanyang Technological University in Singapore, a master’s degree in nuclear engineering from the Massachusetts Institute of Technology, and an MBA from the University of San Francisco. In 2022, he received the Robert N. Noyce Award, which is considered the highest honor from the Semiconductor Industry Association.

Images | Michael Wyszomierski | Intel

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