On Wednesday evening, Intel announced the appointment of Lip-Bu Tan as its new CEO. This seasoned semiconductor expert will need to revive the struggling American chip giant.
The historic heavyweight in semiconductors, Intel, has chosen Lip-Bu Tan as its new president and CEO, effective March 18, 2025. This decision comes at a critical time for Intel, which has faced challenges such as processor stability issues and significant job cuts, alongside discussions regarding the restructuring of its operations.
At 65, Lip-Bu Tan is well-known within the tech ecosystem. He has a remarkable career with over a decade as CEO of Cadence Design Systems, where he increased its market value by over 3,200% from 2009 to 2021. His appointment has been positively received by analysts, as reflected in a 12% rise in Intel's stock following the announcement. Tan's experience and vision will be crucial as he aims to transform Intel, which lost 60% of its market value in 2024.
