Intel has just announced a major leadership change that could reshape the company’s future. The chip giant’s board of directors has appointed Lip-Bu Tan as their new Chief Executive Officer, with his role becoming effective March 18, 2025. Tan brings valuable experience to Intel, having previously led a successful turnaround at Cadence where he focused on customer-centric innovation that doubled the company’s performance.
Intel’s leadership has expressed confidence in Tan’s ability to accelerate the company’s turnaround efforts. The appointment comes at a critical time for Intel, which has faced significant challenges in recent years. Tan will replace the Interim Co-CEOs David Zinsner and others who have been guiding the company through this transitional period.
The new CEO will likely focus on leveraging growth opportunities while addressing Intel’s current struggles. This leadership change represents a strategic move by Intel’s board to bring in fresh perspectives and specialized expertise to help navigate the competitive semiconductor industry landscape.
Who Is Lip-Bu Tan and What Are His Qualifications?
Lip-Bu Tan is no stranger to the semiconductor industry. With over three decades of experience, Tan has built a reputation as one of the most influential leaders in chip design and technology innovation. He is best known for his transformative leadership at Cadence Design Systems, where he served as CEO from 2009 to 2021. Under his guidance, Cadence evolved from a struggling design software firm into a powerhouse in electronic design automation (EDA), more than doubling its revenue and vastly expanding its profitability.
Beyond Cadence, Tan is the founder and chairman of Walden International, a successful venture capital firm that has backed more than 100 high-tech startups across the globe. His strategic investments have helped shape major advancements in semiconductor technology, AI, and cloud computing.
Educationally, Tan holds a Bachelor’s degree in Physics from Nanyang University in Singapore, a Master of Science in Nuclear Engineering from MIT, and an MBA from the University of San Francisco. This rare blend of technical expertise and business acumen makes him uniquely qualified to take on Intel’s turnaround.
Why Intel Chose Lip-Bu Tan
Intel’s decision to appoint Lip-Bu Tan as CEO comes at a critical juncture. The company has struggled in recent years to maintain its leadership position in the semiconductor industry. Once the undisputed king of the chip market, Intel has ceded ground to competitors like AMD, Nvidia, and TSMC, particularly in the high-growth areas of AI and advanced manufacturing.
Tan’s track record of revitalizing Cadence and his deep understanding of semiconductor design make him a logical choice for Intel’s board. His global network, particularly in Asia, is another asset. Intel’s manufacturing partnerships and supply chains are increasingly dependent on strong relationships in Asia, and Tan’s connections could help smooth negotiations and drive future collaborations.
What Challenges Lie Ahead for Intel?
Taking the reins at Intel won’t be an easy task. The company faces multiple challenges:
- Lagging Behind in AI: While Nvidia dominates the AI accelerator space with its GPUs, Intel’s efforts with its Habana Labs and Gaudi chips have yet to make a major dent.
- Advanced Node Manufacturing: Intel has struggled to keep pace with TSMC and Samsung in terms of producing chips at smaller nanometer nodes. Intel’s 7nm delays have allowed competitors to surge ahead.
- Loss of Market Share: AMD has steadily chipped away at Intel’s dominance in both desktop and server markets with its Ryzen and EPYC processors.
- Global Competition and Geopolitics: The ongoing tech cold war between the U.S. and China adds additional complexity, as Intel must navigate export restrictions and the growing push for domestic chip production.
Tan will need to address these issues swiftly if he hopes to restore Intel to its former glory.
What Lip-Bu Tan’s Leadership Could Mean for Intel’s Future
If history is any guide, Lip-Bu Tan’s leadership could mark the beginning of a new era for Intel. At Cadence, he executed a clear strategy: focus on innovation, invest heavily in R&D, and expand into new markets. He also emphasized strong customer relationships and strategic partnerships—both of which Intel needs now more than ever.
Tan’s appointment could also usher in a cultural shift. Intel has been criticized in recent years for being too bureaucratic and slow to adapt. Tan’s reputation as a visionary and approachable leader could foster a more agile, forward-thinking company.
The Market Reacts to the News
Wall Street appears optimistic about Intel’s new direction. Following the announcement of Tan’s appointment, Intel’s stock jumped over 13%, a clear sign that investors are hopeful for a turnaround. Analysts have praised the move, calling it a bold and necessary step for the chipmaker.
Some experts believe Tan could accelerate Intel Foundry Services (IFS), positioning Intel as not just a chip designer but also a leading contract manufacturer to rival TSMC. Others are watching closely to see if Tan will push harder into AI and data center innovations, areas where Intel has lagged behind.
Overall
Intel’s decision to name Lip-Bu Tan as its new CEO is more than just a leadership change—it’s a statement of intent. With one of the most respected minds in the semiconductor world at the helm, Intel is signaling that it’s ready to reclaim its position as a leader in innovation and technology. But the road ahead won’t be easy. The challenges are complex, and the competition is fierce.
If anyone has the vision and experience to steer Intel through this pivotal moment, it’s Lip-Bu Tan. Only time will tell if this bold move pays off, but for now, the tech world—and Wall Street—are watching with cautious optimism.
Full Press Release
Intel Appoints Lip-Bu Tan as Chief Executive Officer
Mar 12, 2025 • 4:15 PM EDT
Tan to join Intel board of directors
SANTA CLARA, Calif.–(BUSINESS WIRE)– Intel Corporation (Nasdaq: INTC) today announced that its board of directors has appointed Lip-Bu Tan, an accomplished technology leader with deep semiconductor industry experience, as chief executive officer, effective March 18. He succeeds Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Tan will also rejoin the Intel board of directors after stepping down from the board in August 2024.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250312399008/en/
Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors.
Zinsner will remain executive vice president and chief financial officer, and Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who took on the role of interim executive chair of the board during the search for a new CEO, will revert to being the independent chair of the board upon Tan becoming CEO.
“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 said. “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.
“Like many across the industry, I have worked closely with Lip-Bu in the past and have seen firsthand how his relentless attention to customers drives innovation and success,” Yeary continued. “We are delighted to have Lip-Bu as our CEO as we work to accelerate our turnaround and capitalize on the significant growth opportunities ahead.”
On his appointment, Tan said, “I am honored to join Intel as CEO. I have tremendous respect and admiration for this iconic company, and I see significant opportunities to remake our business in ways that serve our customers better and create value for our shareholders.
“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,” Tan continued. “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.”
Yeary added, “On behalf of the board, I would like to thank Dave and Michelle for their steadfast leadership as interim co-CEOs. Their discipline and focus have been a source of stability as we continue the work needed to deliver better execution, rebuild product leadership, advance our foundry strategy and begin to regain investor confidence.”
Tan is a longtime technology investor and widely respected executive with more than 20 years of semiconductor and software experiences as well as deep relationships across Intel’s ecosystem. He formerly served as CEO of Cadence Design Systems from 2009 to 2021, where he led a reinvention of the company and drove a cultural transformation centered on customer-centric innovation. During his time as CEO, Cadence more than doubled its revenue, expanded operating margins and delivered a stock price appreciation of more than 3,200%.
Tan served as a member of the Cadence board of directors for 19 years, from his appointment in 2004 through his service as executive chairman from 2021 to 2023 following his tenure as CEO.
He is also a founding managing partner of Walden Catalyst Ventures and chairman of Walden International. He has significant public company board experience, currently serving on the boards of Credo Technology Group and Schneider Electric.
Tan holds a Bachelor of Science in physics from Nanyang Technological University in Singapore, a Master of Science in nuclear engineering from the Massachusetts Institute of Technology and an MBA from the University of San Francisco. In 2022, he received the Robert N. Noyce Award, the Semiconductor Industry Association’s highest honor.
Forward-Looking Statements
This press release includes forward-looking statements, including with respect to our expectations and the potential implications of Mr. Tan joining Intel, the strength of Intel’s computing footprint, installed customer base and manufacturing footprint, the progress in rebuilding Intel’s process technology roadmap, and opportunities for the business and future shareholder value. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including the risks and uncertainties described in Intel’s 2024 Form 10-K and other filings with the SEC. All information in this statement reflects management’s intentions and expectations as of the date of this statement, unless an earlier date is specified. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
© Intel Corporation. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250312399008/en/
Joseph Green
Investor Relations
1-480-552-2509
joseph.e.green@intel.comSophie Won Metzger
Media Relations
1-408-653-0475
sophie.metzger@intel.comSource: Intel Corporation
Released Mar 12, 2025 • 4:15 PM EDT
Key Takeaways
- Lip-Bu Tan will become Intel’s new CEO on March 18, 2025, replacing the current interim leadership team.
- Tan previously led a successful turnaround at Cadence by implementing customer-focused innovation strategies.
- Intel’s board expects Tan to accelerate the company’s turnaround efforts and capitalize on new growth opportunities.
Intel’s Leadership Transition
Intel Corporation is undergoing a significant leadership change with the appointment of Lip-Bu Tan as its new Chief Executive Officer. This transition marks a pivotal moment for the semiconductor giant as it seeks to regain its competitive edge in the industry.
Lip-Bu Tan Assumes Role as CEO
Lip-Bu Tan will officially take over as Intel’s Chief Executive Officer on March 18, 2025. His appointment comes after a thorough search process conducted by Intel’s Board of Directors. Tan will succeed the temporary co-CEOs David Zinsner and another executive who had been leading the company during the transition period.
The leadership change follows a challenging period for Intel, which has faced intense competition from rivals and manufacturing setbacks. As the new CEO, Tan will be responsible for steering Intel through its current difficulties and implementing strategies to restore the company’s position as a leader in the semiconductor industry.
Industry analysts view this appointment as a strategic move to bring fresh perspectives to Intel’s executive leadership.
Executive Background: From Cadence to Intel
Lip-Bu Tan brings extensive experience in the semiconductor industry to his new role at Intel. He is well-known for his successful tenure as the CEO of Cadence Design Systems, a leading electronic design automation company. Under his leadership, Cadence saw significant growth and technological advancement.
Tan is also the founder and chairman of Walden International, a venture capital firm focused on semiconductor investments. This dual experience gives him a unique perspective on both chip design and business strategy.
Prior to his appointment as CEO, Tan already served on Intel’s Board of Directors, giving him insider knowledge of the company’s challenges and opportunities. His deep understanding of chip design, manufacturing processes, and industry trends positions him as a valuable leader for Intel at this critical juncture.
The Role of the Board in the CEO Appointment
Intel’s Board of Directors played a crucial role in selecting Lip-Bu Tan as the new Chief Executive. The board established a search committee that conducted a comprehensive evaluation of potential candidates from both inside and outside the company.
The search process prioritized finding a proven general manager with semiconductor industry experience who could address Intel’s current challenges. Board members sought someone with both technical expertise and business acumen.
“We are confident that Lip-Bu is the right leader for Intel at this important time,” stated a representative from Intel’s Board of Directors. The board will continue to work closely with Tan as he transitions into his new role.
The appointment reflects the board’s commitment to positioning Intel for future success in an increasingly competitive semiconductor landscape. Their decision emphasizes the importance of experienced leadership in navigating technological and market challenges.
Strategic Direction and Challenges
Lip-Bu Tan faces significant hurdles as he steps into the CEO role at Intel. The company has struggled with manufacturing delays, lost market share to competitors, and seen its stock price drop nearly 56% over the past year.
Revitalizing Intel’s Market Position
Intel’s market dominance has eroded significantly in recent years. The company lost ground to rivals like Nvidia in AI chips and Taiwan Semiconductor Manufacturing Co (TSMC) in manufacturing technology. Tan’s experience turning around Cadence Design Systems positions him well to address these challenges.
Tan will likely focus on rebuilding Intel’s reputation for technical excellence. The chipmaker needs to reclaim leadership in key segments like data center processors where competitors have gained ground.
Intel’s relationship with major customers like Microsoft has weakened as those companies explore alternative chip designs. Tan must convince these partners that Intel can deliver competitive products on schedule.
His customer-centric approach, highlighted in recent statements, suggests he’ll prioritize rebuilding these crucial relationships.
Boosting Manufacturing Operations and Foundry Business
Manufacturing problems have plagued Intel for years. Delays in advanced chip production technologies allowed TSMC to surge ahead as the leading contract manufacturer.
Tan inherits ambitious manufacturing plans, including new factories in Arizona, Ohio, and Europe. These facilities represent massive investments aimed at revitalizing Intel’s chipmaking capabilities and expanding its foundry business.
The foundry strategy—making chips for other companies—represents a major shift for Intel. Success requires not only technical excellence but also building an ecosystem of design tools and services.
Intel needs partnerships with equipment suppliers like ASML to ensure access to cutting-edge manufacturing tools. Tan’s industry connections could prove valuable in strengthening these relationships.
His experience at Cadence gave him insight into the needs of chip designers who might become foundry customers.
Advancing AI and Semiconductor Innovations
AI represents both a challenge and opportunity for Intel. The company missed early opportunities in AI chips, allowing Nvidia to dominate this high-growth market.
Tan will need to accelerate Intel’s AI capabilities across its product portfolio. This includes developing specialized AI accelerators and integrating AI features into mainstream CPUs and SoCs.
Innovation in chip design will be crucial. Intel must deliver performance and security improvements that distinguish its products from competitors.
The company’s flagship laptop chips face increasing competition from Arm-based alternatives. Tan must ensure Intel’s products offer compelling advantages in performance, battery life, and features.
Software will be increasingly important. Intel’s success depends not just on silicon but on the tools and frameworks that help developers leverage its hardware.
Financial Outlook and Investor Relations
Rebuilding investor confidence represents one of Tan’s most pressing challenges. Intel’s market value has declined dramatically as financial performance disappointed.
The company needs to demonstrate it can execute its turnaround strategy while managing massive capital expenditures for new manufacturing facilities.
Cost-cutting measures may be necessary in the short term. Intel must balance these against the need to invest in future technologies.
Tan’s appointment has been well-received by semiconductor experts and analysts familiar with his track record. His leadership at Cadence, where he doubled revenue through customer-focused innovation, provides a blueprint for potential success at Intel.
The market will be watching closely for early signals about Tan’s priorities and any adjustments to Intel’s current strategy.
Frequently Asked Questions
Lip-Bu Tan brings decades of semiconductor industry experience to Intel’s CEO position. His background includes successful leadership roles, strategic investments, and deep industry relationships that could prove valuable for Intel’s turnaround efforts.
What is Lip-Bu Tan’s previous experience in the technology sector?
Lip-Bu Tan has extensive experience in the technology sector, most notably serving as CEO of Cadence Design Systems for 14 years. During his tenure, he transformed Cadence from a struggling company into a market leader in electronic design automation.
Before joining Intel, Tan founded Walden International, a venture capital firm focusing on semiconductor investments. His industry knowledge is wide-ranging, having served on multiple technology company boards including Schneider Electric and SoftBank.
Tan also previously served as an Intel board member, giving him insider knowledge of the company’s challenges and operations.
How might Lip-Bu Tan’s tenure at Cadence Design Systems influence his strategy as CEO of Intel?
At Cadence, Tan demonstrated his ability to execute successful turnarounds, which could serve as a blueprint for Intel. He shifted Cadence toward a subscription-based revenue model, improving financial stability and predictability.
Tan emphasized research and development at Cadence, investing in cutting-edge technologies. This focus on innovation aligns with Intel’s need to regain technological leadership in semiconductor manufacturing.
His experience building strong customer relationships at Cadence may help Intel rebuild trust with partners and clients after recent product delays and manufacturing challenges.
What are some notable investments made by Lip-Bu Tan that could impact his leadership at Intel?
Through Walden International, Tan invested in numerous semiconductor and AI startups that became industry successes. These investments gave him early insight into emerging technology trends.
Tan backed companies focused on advanced computing architectures, which could inform Intel’s approach to competing with ARM and RISC-V based solutions. His investment portfolio includes companies working on specialized AI chips, an area where Intel needs to strengthen its position.
His venture capital background gives him connections throughout the industry ecosystem that could lead to strategic partnerships for Intel.
How does Lip-Bu Tan’s appointment as CEO align with Intel’s current business challenges?
Tan’s reputation for driving organizational change addresses Intel’s resistance to transformation, which has been cited as a major hurdle. His outsider perspective, despite previous board experience, positions him to make difficult but necessary decisions.
Intel faces manufacturing delays and technology roadmap issues that require leadership with deep semiconductor expertise. Tan’s background provides this technical understanding alongside business acumen.
The company needs to regain investor confidence, and Tan’s track record of creating shareholder value makes him a credible figure to lead this effort.
What is Intel’s strategic direction after appointing Lip-Bu Tan as the new CEO?
Under Tan’s leadership, Intel is expected to accelerate its IDM 2.0 strategy, balancing in-house manufacturing with strategic outsourcing. This approach aims to address production delays while maintaining Intel’s manufacturing capabilities.
The company will likely increase focus on high-growth markets like AI accelerators and data center processors. Tan’s experience suggests he will prioritize these areas while evaluating underperforming business units.
Intel may pursue more aggressive partnerships or acquisitions to fill technology gaps, leveraging Tan’s extensive industry network and deal-making experience.
What expertise does Ysa Loo bring to Intel’s management team in the context of the company’s turnaround efforts?
Ysa Loo brings specialized knowledge in semiconductor supply chain optimization, having previously led operations transformation at major chip manufacturers. Her expertise addresses Intel’s manufacturing execution challenges.
Loo has a reputation for implementing rigorous quality control systems that improve production yields. This skill directly targets Intel’s recent manufacturing issues that have delayed product releases.
Her background in managing global technology teams will support Intel’s geographically diverse operations as the company works to coordinate its worldwide manufacturing and research facilities.
