Intel has appointed a new CEO, Lip-Bu Tan who is a major figure in the semiconductor industry, effective March 18.
On Wednesday, March 12, 2025, the company officially announced that its board of directors has appointed Lip-Bu Tan as an accomplished technology leader, alongside Tan succeed interim co-CEOs David Zinsner and Michelle Johnston Holthaus.
The Semiconductor manufacturing company said that Tan will also rejoin the Intel board of directors after stepping down from the board in August 2024.
Zinsner will remain Intel’s CFO, while Johnston Holthaus will remain Intel’s CEO of the Products division.
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According to the company, Tan is exceptionally well-connected in the tech industry, and a director on the boards of Hewlett Packard Enterprise, Schneider Electric, and SoftBank.
He is also widely respected as a business leader. After Intel announced Tan’s appointment, the intel's stock jumped around 11% in after-hours trading.
Expressing his feelings on the appointment, Tan noted, “I am honoured 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," he added.
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To note, Intel has a powerful and differentiated computing platform, a vast customer installed base and a robust manufacturing footprint.
