Intel's New CEO Lip Bu Tan: "A New Opportunity to Reimagine Business"

Rejoins Board of Directors After Stepping Down Last August
"Intel Now Has a Stronger and More Solid Manufacturing Foundation"

Intel, a U.S. semiconductor company facing financial difficulties, has appointed Lip Bu Tan (65) as its new Chief Executive Officer (CEO), who expressed confidence that the company will have an opportunity to make a fresh leap forward.

Lip Bu Tan, Newly Appointed Intel CEO

On the 13th, Intel announced in a statement that Tan will assume the CEO position starting on the 18th and will rejoin the board of directors from which he had stepped down last August. The appointment of Intel's new CEO comes just three months after former CEO Pat Gelsinger, who led Intel's restructuring, resigned in December last year. Since then, Intel has been under an interim CEO system.

Tan is regarded as a veteran in the semiconductor industry. Born in Malaysia and raised in Singapore, he previously served as CEO of Cadence Design Systems, a U.S. semiconductor design software company. After building a career in venture capital, he joined Cadence's board in 2004, became co-CEO in 2008, and sole CEO from 2009. He led the company for over a decade, establishing a duopoly in the semiconductor design software market alongside competitor Synopsys.

Regarding his appointment as CEO, Tan said, "I am very honored to join Intel as CEO. I have deep respect and affection for this iconic company and see this as an important opportunity to rethink the business to better serve customers and create shareholder value."

He added, "Intel has a strong and differentiated computing platform, a vast existing customer base, and a solid manufacturing foundation that is becoming stronger day by day as it rebuilds its process technology roadmap. I look forward to joining Intel and building on the efforts the entire Intel team has made to prepare the business for the future."

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