Who’s Lip-Bu Tan? Trade veteran named CEO at struggling Intel

Chipmaker big Intel appointed tech business veteran Lip-Bu Tan as its new chief govt on Wednesday, who can be assuming his function from March 18, 2025.
The transfer pushed the corporate shares hovering greater than 10 per cent in after market commerce.
Bu Tan’s appointment comes at a vital time when the tech agency is struggling to reclaim its dominance within the business. Tan can also be scheduled to hitch the board of administrators from August. As Intel’s new chief, Tan inherited an organization as soon as on the high within the laptop part manufacturing sector, nonetheless as rivals like Nvidia, Taiwan’s TSMC and South Korea’s Samsung have emerged as new leaders, the corporate is grappling with huge losses.
Intel’s interim CEO Frank D Yeary mentioned, “We’re delighted to have Lip-Bu as our CEO as we work to speed up our turnaround and capitalize on the numerous progress alternatives forward.”
In a press release launched by the corporate Tan mentioned, “Intel has a strong and differentiated computing platform, an unlimited buyer put in base and a strong manufacturing footprint that’s getting stronger by the day as we rebuild our course of know-how roadmap.”
“I’m keen to hitch the corporate and construct upon the work your complete Intel staff has been doing to place our enterprise for the longer term,” he added.
The corporate is hoping to regain its place because the semiconductor chief with the choice although Tan informed the Intel staff that “will not be straightforward” to beat challenges confronted by the corporate.
Who’s Lip Bu Tan?
Lip-Bu Tan is an skilled CEO with a observe report within the laptop software program sector and has performed a key function in shaping the semiconductor panorama.
Born in Malaysia, Tan is a well-renowned determine within the semiconductor business. He made his mark because the CEO of Cadence Design Programs, a number one chip design software program firm, from 2009 to 2021. Intel reported that below his management, Cadence elevated its income to greater than double.
Tan has a bachelor’s diploma in science, from the Nanyang Technological College Singapore. He additionally studied masters of science on the Massachusetts Institute of Know-how, after which he went on to pursue an MBA on the College of San Francisco.
He was additionally awarded an honorary physician’s diploma in Might 2022, by the College of San Francisco.
In 2022, he obtained the Robert N Noyce Award, the Semiconductor Trade Affiliation’s highest honor.
Tan is wanting ahead “to remake our firm at one of the vital pivotal moments in its historical past,” along with his new function.
Yeary mentioned, “I’ve labored intently with Lip-Bu previously and have seen firsthand how his relentless consideration to clients drives innovation and success.”
Why is Intel struggling?
Intel’s wrestle might be primarily attributed to its failure to capitalise on the AI growth whereas its rivals like Nvidia have earned its place within the newly rising AI realm. The struggles might be seen in its monetary efficiency, reporting a staggering $18.8 billion internet loss in 2024.
Lip-Bu Tan’s predecessor, Pat Gelsinger, was pressured out as Intel’s CEO in December final 12 months after the board misplaced confidence in his turnaround technique. His sudden departure adopted a sequence of drastic measures, together with a plan to chop over 15,000 jobs and the choice to halt or delay development on a number of chipmaking amenities as a part of a serious cost-cutting effort.
Final 12 months, the Biden administration awarded Intel $7.9 billion as a part of an effort to spice up semiconductor manufacturing within the US, however in February, the corporate slowed down the development of two new chip crops in Ohio, citing a cautious method to the $28 billion challenge.