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Chipmaking giant Intel has named Lip-Bu Tan as its new CEO, effective 18 March 2025, succeeding interim co-CEOs David Zinsner and Michelle Johnston Holthaus.
Tan will also rejoin Intel’s board of directors after stepping down in August 2024.
With more than two decades of experience in the semiconductor and software sectors, Tan has built strong relationships across Intel's ecosystem, the company said.
Tan said: “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 previously served as CEO of Cadence Design Systems from 2009 to 2021, where he led cultural transformation, focusing on customer-centric innovation.
He was also a member of the Cadence board of directors for 19 years and served as executive chairman from 2021 to 2023 after his CEO tenure.
Meanwhile, David Zinsner will continue in his role as executive vice-president and chief financial officer, while Michelle Johnston Holthaus will remain CEO of Intel Products.
Frank Yeary, who served as interim executive board chair during the CEO search, will return to his position as independent board chair once Tan assumes the CEO role.
Yeary said” “Lip-Bu is an exceptional leader whose technology industry expertise, deep relationships across the product and foundry ecosystems, and proven track record of creating shareholder value is exactly what Intel needs in its next CEO.
“Throughout his long and distinguished career, he has earned a reputation as an innovator who puts customers at the heart of everything he does, delivers differentiated solutions to win in the market and builds high-performance cultures to achieve success.
“We are delighted to have Lip-Bu as our CEO as we work to accelerate our turnaround and capitalise on the significant growth opportunities ahead.
The latest development comes after Taiwanese chipmaker TSMC approached major US chipmakers including Nvidia, Advanced Micro Devices (AMD) and Broadcom with an offer to acquire a stake in a potential joint venture (JV) that would manage Intel’s foundry operations.
In February 2025, Intel announced a delay in its $20bn chipmaking project in Ohio, citing slow US grant disbursement and market challenges.
"Intel names Lip-Bu Tan as new CEO" was originally created and published by Verdict, a GlobalData owned brand.