On March 12th, 2025 local time, Intel Corporation officially announced that its board of directors has appointed Lip-Bu Tan as CEO, and the appointment will take effect on March 18th.
Lip-Bu Tan is a seasoned technology leader with extensive semiconductor industry experience. He will succeed interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Lip-Bu Tan will rejoin Intel’s board of directors after stepping down in August 2024.
David Zinsner will continue to serve as executive vice president and chief financial officer, and Johnston Holthaus will continue to serve as chief executive officer of Intel Products. Frank D. Yeary, who served as interim executive chairman of the board during the search for a new CEO, will resume his role as independent chairman of the board when Lip-Bu Tan assumes the role of CEO.
“Lip-Bu Tan is an exceptional leader whose technology industry expertise, deep relationships with the product and foundry ecosystem, and proven track record of creating shareholder value are exactly what Intel needs as its next CEO,” said Yeary. “Throughout his long and distinguished career, he has earned a reputation as an innovator who puts the customer at the heart of everything he does, delivers differentiated solutions to win in the market, and builds a high-performance culture to succeed.”
Yeary continued, "Like many in the industry, I have worked closely with Lip-Bu Tan in the past and have seen firsthand how his relentless focus on customers drives innovation and success. We are excited to have Lip-Bu Tan as our CEO as we work to accelerate our transformation and capitalize on the tremendous growth opportunities ahead."
Commenting on his appointment, Lip-Bu Tan said: “I am honored to join Intel as CEO. I have great respect and admiration for this iconic company, and I see significant opportunities to reshape the business to better serve our customers and create value for our shareholders.”
Tan continued, “Intel has powerful and differentiated computing platforms, a large customer installed base and strong manufacturing capabilities that will grow stronger as we rebuild our process technology roadmap. I am eager to join the company and build on the work of teams across Intel to prepare for the future of our business.”
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 are a source of stability as we continue to work toward achieving better execution, rebuilding product leadership, advancing our foundry strategy, and beginning to earn back investor confidence."
According to information, Lip-Bu Tan is a long-term technology investor and widely respected executive with more than 20 years of semiconductor and software experience and a deep relationship with the Intel ecosystem. He served as CEO of Cadence Design Systems from 2009 to 2021, leading the company to reshape and drive a customer-centric innovation culture transformation. During his tenure as CEO, Cadence's revenue more than doubled, operating margins improved, and stock prices rose by more than 3,200%.
Lip-Bu Tan also served as a member of Cadence’s board of directors for 19 years, starting in 2004 when he was appointed and continuing as executive chairman from 2021 to 2023, following his tenure as CEO.
He is also the founding managing partner of Walden Catalyst Ventures and chairman of Walden International. He has extensive public company board experience and currently serves on the boards of Credo Technology Group and Schneider Electric.
Lip-Bu Tan holds a bachelor’s degree in physics from Nanyang Technological University, Singapore, a master’s degree in nuclear engineering from MIT, and an MBA from the University of San Francisco. In 2022, he received the Semiconductor Industry Association’s highest honor, the Robert Noyce Award.
