New Leadership at Intel: Lip-Bu Tan Steps in as CEO

Through bold strokes of leadership change, Intel has appointed the veteran of the semiconductor industry, Lip-Bu Tan, as the new Chief Executive Officer. This decision comes as the American chip giant struggles to regain footing after a turbulent phase.

Tan, previously a board member at Intel, is to assume the office on March 18. He has been one of the top contenders for the helm since the company separated from its erstwhile head, Pat Gelsinger, last year.

The Chip Industry Veteran

A native of Malaysia, 65-year-old Tan blends an illustrious academic career with an equally illustrious career in a variety of roles across technology and semiconductors, including investor, executive, and board member. He founded the venture capital company Walden International, based in San Francisco, in 1984 and has been its chair ever since. He served as chief executive officer for Cadence Design Systems, a primary supplier to Intel and a chip design company, from 2009 to 2021. He has also served on boards of directors for major technology companies such as Hewlett-Packard Enterprise and SoftBank Group.

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An Ambivalent Relationship with Intel

Tan was one of the newcomers joining Intel’s board in 2022 as the company was trying to reinstate its status as a global chip leader. A year later, he gained broader responsibilities, including the supervision of manufacturing operations. However, he resigned in 2023 after falling out with the company over its turnaround strategy.

He now casts himself as the chief executive to align Intel design and manufacturing. In a letter to employees on Wednesday, Tan stressed the importance of the company to the global tech scene and expressed his confidence in its ability to turn around.

“Intel plays an essential role in the technology ecosystem, both in the U.S. and around the world. And, together, I’m confident we can turn our business around,” he stated.

Thus, Intel should dismiss the high-profile turnaround attempt with Tan on board while Intel continues to be under pressure in an ever-competitive and harsh semiconductor ecosystem.