Lip-Bu Tan Takes Charge As Intel's New CEO: All About The Semiconductor Veteran
Bu-Tan takes over the position from the interim co-CEOs of the company who were appointed after former CEO Pat Gelsinger was forced out of the company's board.
Intel Corp. has appointed Lip-Bu Tan as their new chief executive officer, effective from March 18, 2025.
Bu-Tan takes over the position from David Zinsner and Michellen Johnston Holthaus, the interim co-CEOs of the company, who were appointed after former CEO Pat Gelsinger was forced out of the company's board, according to Bloomberg.
“Intel has a powerful and differentiated computing platform, a vast customer installed base and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap. I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future," Tan said.
Intel said in a blog post on their website that Tan is "an accomplished technology leader with deep semiconductor industry experience".
Bu-Tan initially served as executive chairman until 2023 at Cadence Design Systems, a leading semiconductor manufacturing company.
He was CEO at Cadence from 2003 to 2021, serving on as a member of the board of directors from 2004 onwards, after which, he took over as chairman.
He also has a background in venture capital investment, having been the founding managing partner of Walden Catalyst Ventures and chairman of Walden International. Intel also said that he has "significant public company experience", with him currently serving on the boards of Credo Technology Group and Schneider Electric.
Tan initially worked as a manager at EDS Nuclear and ECHO Energy before co-founding Walden International.
He had a Master of Science in nuclear engineering from the Massachusetts Institute Of Technology and earned his Bachelor of Science in physics degree from Singapore's Nanyang Technological University.
Tan is also a Master Of Business Administration degree holder from the University of San Francisco.
Tan was appointed CEO after Intel's board expressed dissatisfaction with Pat Gelsinger's progress, when it came to pushing the company to manufacture more artificial intelligence accelerator chips to compete with Nvidia. The Jansen Huang-led company's chip breakthrough helped it gain a substantial lead in the amount of profits it generated in comparison to Intel and other tech companies that manufacture software chips.
They also were reportedly unhappy with Gelsinger over the lack of product innovations that could gain major traction in the market, which they believe was being neglected in Gelsinger's attempt to keep the primary focus on AI chipmaking.
