Intel has announced the appointment of veteran semiconductor executive Lip-Bu Tan as its new CEO, effective March 18, 2025. Tan’s leadership comes at a pivotal moment for the company, which has seen its stock price plummet and struggled to maintain a competitive edge in the chip industry.
Tan, the former CEO of Cadence Design Systems from 2009 to 2021, is widely credited with revitalizing Cadence’s revenue and stock performance. His extensive experience as a technology investor in semiconductor startups also positions him as a strong leader to guide Intel through its challenges. Tan replaces Pat Gelsinger, whose ambitious plans failed to reverse Intel’s recent decline.
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In a message to Intel employees, Tan emphasized his commitment to restoring Intel’s standing as a world-class products company and a leading foundry for chip manufacturing. “We will work hard to reestablish Intel as a global leader in both product innovation and foundry services,” he wrote.
The announcement triggered a 12% surge in Intel’s shares, with analysts optimistic about Tan’s ability to stabilize the company. Intel’s challenges are significant, with a 60% stock decline in 2024 and major investments needed to transition toward contract chip manufacturing.
Tan’s deep understanding of product design and manufacturing will be critical as Intel seeks to regain market share, especially in AI chips, where rivals like Nvidia have surged ahead. His return to Intel’s board, where he previously served from 2022 to 2024, underscores the company’s determination to preserve its chip-design and manufacturing operations.
