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Intel Stock Rallies As Chip Giant Names New CEO
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Intel on Wednesday named veteran technologist Lip-Bu Tan as the chipmaker's new chief executive officer. Intel said Tan, who served as CEO of Cadence Design Systems, will succeed interim co-CEOs David Zinsner and Michelle Johnston Holthaus, the company announced. The announcement capped a period of uncertainty for the Santa Clara, Calif.-based semiconductor giant which stunned the tech world when it announced the sudden departure of former CEO Pat Gelsinger.
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