In a move to regain its position as a leader in the semiconductor industry, Intel has announced the appointment of Lip-Bu Tan as its new CEO.
The leadership change comes as the company navigates a difficult period marked by falling market share and increasing competition from rivals like AMD and NVIDIA.
Intel revealed on Wednesday that Lip-Bu Tan will officially take over as CEO on March 18, 2025. Tan is no stranger to the technology and semiconductor world.
He previously served as the CEO of Cadence Design Systems and is known for his deep industry expertise and successful track record.
Before this appointment, Tan was a member of Intel’s board until August 2024 and currently chairs Walden International, a global venture capital firm specializing in technology investments.
His appointment follows the resignation of former CEO Pat Gelsinger in December 2024. During Gelsinger’s tenure, Intel faced significant financial setbacks, including major losses and workforce reductions.
Following his departure, the company was led by interim co-CEOs David Zinsner, Intel’s Chief Financial Officer, and Michelle Johnston Holthaus, an executive vice president.
Market Reaction
The news of Tan’s appointment was met with optimism from investors. Intel’s stock surged nearly 13% in after-hours trading immediately following the announcement.
Investors are hopeful that Tan’s extensive industry experience will help revitalize Intel’s business strategy and foster innovation.
Analysts suggest that his connections within the semiconductor ecosystem could be crucial in helping Intel navigate the complex global chip market.
Despite the leadership change, Intel faces an uphill battle. The company has struggled to keep up with competitors who have made significant advances in chip technology.
Intel’s delays in manufacturing and delivering next-generation processors have allowed rivals like AMD to capture a larger share of the market.
Intel’s board of directors expressed confidence in Tan’s ability to lead the company toward a brighter future. Tan’s extensive experience and leadership are expected to play a crucial role in guiding Intel through its current struggles.