Intel appoints Lip-Bu Tan as new CEO

SANTA CLARA, Calif. - Intel Corporation (NASDAQ:INTC), the $89.46 billion semiconductor giant, has announced the appointment of Lip-Bu Tan as its new chief executive officer, effective March 18. Tan, an experienced technology leader with extensive semiconductor industry experience, will succeed Interim Co-CEOs David Zinsner and Michelle Johnston Holthaus. In addition to his CEO role, Tan will also rejoin Intel’s board of directors. According to InvestingPro data, Tan inherits a company currently trading near its Fair Value with significant challenges ahead.

Tan’s career includes over 20 years in the semiconductor and software industries. He is noted for his tenure as CEO of Cadence Design Systems from 2009 to 2021, where he led a significant transformation of the company, resulting in more than doubling its revenue and a stock price increase of over 3,200%. He has also been recognized with the Robert N. Noyce Award, the Semiconductor Industry Association’s highest honor. His appointment comes as Intel faces significant headwinds, with the stock down nearly 56% over the past year.

Frank D. Yeary, interim executive chair of Intel’s board, praised Tan’s leadership qualities, emphasizing his ability to drive innovation and success through customer-centric strategies. Yeary expressed confidence in Tan’s capabilities to accelerate Intel’s turnaround and leverage growth opportunities.

Upon his appointment, Tan expressed his admiration for Intel and his eagerness to build upon the company’s existing work to position it for the future. He highlighted Intel’s robust manufacturing footprint and the ongoing efforts to rebuild its process technology roadmap.

Zinsner will continue as executive vice president and chief financial officer, while Johnston Holthaus will maintain her role as CEO of Intel Products. Yeary will revert to the independent chair of the board once Tan assumes the CEO position.

Tan’s appointment comes at a time when Intel is focused on improving execution, regaining product leadership, advancing its foundry strategy, and restoring investor confidence. His experience and relationships within the industry are expected to contribute to these goals. InvestingPro analysis reveals the company is currently burning through cash with negative free cash flow, though analysts predict a return to profitability this year. For deeper insights into Intel’s turnaround potential and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.

The information provided in this article is based on a press release statement from Intel Corporation.

In other recent news, Intel announced the expansion of its Intel Tiber Trust Services portfolio, aimed at enhancing security and trust in modern application architectures. This move includes new offerings like Intel® Tiber™ Platform Lifecycle Integrity and Security Assurance Services, designed to tackle increasing regulatory demands and cyber threats. Additionally, Intel launched the Assured Supply Chain program to improve transparency in chip manufacturing, initially available on select Intel Core Ultra (Series 2) SKUs. This initiative provides a digital record of each chip’s manufacturing journey, strengthening trust in Intel’s production processes.

Despite these advancements, Intel faces potential revenue challenges due to the delayed production of its Panther Lake chip, now postponed to mid-Q4 2025. Analyst Ming-Chi Kuo from TF International Securities suggests this delay may impact Intel’s revenue and profit in the second half of 2025. Meanwhile, Broadcom’s CEO, Hock Tan, dismissed acquisition rumors concerning Intel, stating that Broadcom is currently focused on AI and VMware projects. Lastly, TF International Securities’ Ming-Chi Kuo noted ongoing discussions about a potential joint venture between Intel and Taiwan Semiconductor Manufacturing Company, though this idea remains in early stages.

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