Intel Corporation has appointed Malaysia-born entrepreneur Lip-Bu Tan as its new Chief Executive Officer (CEO), effective March 18, 2025.
According to Intel, he succeeds Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus.
Tan will also rejoin the Intel board of directors after stepping down from the board in August 2024.
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 D. Yeary, who took on the role of interim executive chair of the board during the search for a new CEO said.
Tan’s appointment has been met with enthusiasm from investors, with Intel’s stock surging by approximately 12% following the announcement.
Background
Born on November 12, 1959, in Muar, Johor, Lip-Bu Tan is a seasoned executive with extensive experience in the semiconductor industry.
He served as the CEO of Cadence Design Systems from 2009 to 2021, where he significantly increased the company’s market value.
Tan also founded Walden International, a venture capital firm, and has held board positions with major companies such as Hewlett Packard Enterprise, Schneider Electric, and SoftBank.
He holds a Bachelor of Science in physics from Nanyang Technological University in Singapore, a Master of Science in nuclear engineering from the Massachusetts Institute of Technology, and an MBA from the University of San Francisco.
Intel’s recent performance
Intel has faced several challenges in recent years, including declining market share in data centers and PCs, as well as significant losses in its manufacturing segment.
Over the past five years, the company’s stock has declined by approximately 60%, while competitors have flourished.
Following the announcement of Tan’s appointment, Intel’s shares surged by 12% in after-hours trading, closing at $23.70 on March 13, 2025.
This increase is viewed positively by investors, who anticipate that Tan’s leadership will steer the company towards recovery.
Analysts note that while Tan’s appointment brings optimism, Intel faces a challenging road ahead to regain its competitive edge in the semiconductor industry.
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