Key Takeaways Intel named Lip-Bu Tan its new CEO, effective March 18. Tan is the former CEO of Cadence Design Systems, a semiconductor software company that has partnered with Intel.The chipmaker had been searching for a permanent CEO since Pat Gelsinger's retirement late last year.

Intel said on Wednesday that Lip-Bu Tan is taking over as CEO, three months after Pat Gelsinger resigned from the post.

Intel has appointed Lip-Bu Tan as its new CEO amidst the company's turnaround effort and reports that TSMC is looking to run its manufacturing business.

Tan succeeds interim co-CEOs David Zinsner and Michelle Johnston Holthaus. He’ll also rejoin the Intel board of directors after stepping down from the board in August 2024, Intel said. Zinsner will remain Intel’s CFO, while Johnston Holthaus will remain CEO of the company’s Intel Products division.

Intl said former Cadence Design Systems chief executive Lip-Bu Tan will be the company's next chief executive. Former co-CEOs Michelle Johnston Holthaus and David Zinsner will remain at the company.

SAN FRANCISCO – Intel has named Mr Tan Lip-Bu as its next chief executive officer, entrusting a former board member and semiconductor veteran with one of the toughest jobs in the chip industry. Mr Tan, 65, will assume the role on March 18, the company said in a statement on March 12. He will rejoin the board, as he had stepped down in August 2024.

The former CEO of Cadence Design Systems, steps in as the semiconductor manufacturer has lost market share.

Chip industry veteran Lip-Bu Tan is taking on the CEO role at Intel, three months after former CEO Patrick Gelsinger was forced into retirement.

Intel Corporation has announced that its board of directors has appointed Lip-Bu Tan as chief executive officer, effective March 18.

SAN FRANCISCO] Intel named Tan Lip-Bu as its next chief executive officer, entrusting a former board member and semiconductor veteran with one of the toughest jobs in the chip industry. Read more at The Business Times.