Intel Welcomes Lip-Bu Tan as New CEO

Intel Corporation has officially announced the appointment of Lip-Bu Tan as its new Chief Executive Officer, effective March 18. Tan, who previously held the position of CEO at Cadence, is set to bring a wealth of experience and leadership to Intel. His return to the company's board, after a brief departure in August last year, marks a significant moment for the tech giant.

Frank Yeary, Intel's interim executive chair, praised Tan's appointment, highlighting his deep industry expertise and proven ability to create shareholder value. "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," Yeary stated.

Leadership Transition at Intel

Following this strategic appointment, Frank Yeary will return to his role as the independent chair of the board. Meanwhile, David Zinsner, who served as interim co-CEO, will continue his duties as executive vice president and chief financial officer. Michelle Johnston Holthaus, the other interim co-CEO, will remain as the CEO of Intel Products. This leadership reshuffle comes after the retirement of Pat Gelsinger in December, marking a new era for Intel.