Intel Corporation has announced that Lip-Bu Tan will be the new chief executive officer (CEO), starting on March 18. He takes over from David Zinsner and Michelle (MJ) Johnston Holthaus, who have been serving as interim co-CEOs. After leaving the Intel board in August 2024. Tan will also join the Intel board of directors after stepping down from the board in August 2024.
Zinsner will stay on as executive vice president and chief financial officer, and Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who helped lead the company while searching for a new CEO, will return to being the independent chair of the board when Tan officially becomes CEO.
“Lip-Bu Tan is a remarkable leader with a lot of experience in the technology field and strong relationships in the semiconductor industry,” Yeary said. “He is known for his focus on customers, ability to bring innovative solutions, and for building successful teams.”
Lip-Bu Tan expressed excitement about his new role, saying, “I am honored to become Intel’s CEO. I have great respect for this well-known company, and I see many opportunities to improve our business for our customers and our shareholders.”
Lip-Bu Tan highlighted Intel’s strong position in the computing world and its growing manufacturing capabilities, saying he is eager to work with the Intel team to support the company’s future.
Lip-Bu Tan has over 20 years of experience in the semiconductor and software industries. He was the CEO of Cadence Design Systems from 2009 to 2021, where he transformed the company and helped it grow significantly, including a major increase in stock price.
In addition to his previous roles, he is Walden Catalyst Ventures’s founding partner and Walden International’s chairman. Tan served as a member of the Cadence board of directors for 19 years, from his appointment in 2004 through his service as executive chairman from 2021 to 2023, following his tenure as CEO.
Lip-Bu Tan earned a Bachelor’s degree in physics from Nanyang Technological University in Singapore, a Master’s degree in nuclear engineering from MIT, and an MBA from the University of San Francisco. In 2022, he received the Robert N. Noyce Award, an important award in the semiconductor industry.
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