Intel Announces Lip-Bu Tan as New Chief Executive Officer
(Source: Tada Images/Shutterstock)
Intel announced that its board of directors has appointed Lip-Bu Tan, a technology veteran with deep semiconductor industry experience, as chief executive officer, effective March 18. He succeeds Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Tan was previously on Intel’s board of directors (BOD) but stepped down in August of 2024, citing “This is a personal decision based on a need to reprioritize various commitments, and I remain supportive of the company and its important work.” As part of his new position, he will rejoin the Intel BOD.
Zinsner will remain executive vice president and chief financial officer, and Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who took on the role of interim executive chair of the board during the search for a new CEO, will revert to being the independent chair of the board upon Tan becoming CEO.
“Lip-Bu is an exceptional leader whose technology industry expertise, deep relationships across the product and foundry ecosystems, and proven track record of creating shareholder value is exactly what Intel needs in its next CEO,” Yeary said. “Throughout his long and distinguished career, he has earned a reputation as an innovator who puts customers at the heart of everything he does, delivers differentiated solutions to win in the market, and builds high-performance cultures to achieve success.
“Like many across the industry, I have worked closely with Lip-Bu in the past and have seen firsthand how his relentless attention to customers drives innovation and success,” Yeary continued. “We are delighted to have Lip-Bu as our CEO as we work to accelerate our turnaround and capitalize on the significant growth opportunities ahead.”
Born in 1959 in what is now Malaysia, Tan grew up and was educated in Singapore; he graduated from Nanyang University with a Bachelor of Science degree with a major in physics. Tan later completed a Master of Science in nuclear engineering at the Massachusetts Institute of Technology (MIT). After MIT, he continued at the University of San Francisco in California, graduating with a Master of Business Administration. In 2022, he received the Robert N. Noyce Award, the Semiconductor Industry Association’s highest honor.
Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company's board of directors. (Source: Intel)
Tan, 66, has served since 2021 as executive chairman of Cadence, a computational software company providing solutions for designing and developing complex semiconductor chips and electronic systems, and since 2004 as a member of its board. He served as chief executive officer of Cadence from 2009 to 2021 and as president from 2009 to 2017. Under Tan’s leadership, Cadence’s net worth grew to $1.3 billion by 2012, including $440 million in that year alone.
Tan is a longtime technology investor and widely respected executive with many years of semiconductor and software experience, as well as deep relationships across Intel’s ecosystem. In 2017, the analytics firm Relationship Science named him the most connected executive in the technology industry, garnering a perfect “power score” of 100.
On his appointment, Tan said, “I am honored 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.
“Intel has a powerful and differentiated computing platform, a vast customer installed base, and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap,” Tan continued. “I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future.”
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 have been a source of stability as we continue the work needed to deliver better execution, rebuild product leadership, advance our foundry strategy, and begin to regain investor confidence.”
Tan is also a founding managing partner of Walden Catalyst Ventures and chairman of Walden International. He has significant public company board experience, currently serving on the Credo Technology Group and Schneider Electric boards.
This article first appeared on HPCwire.
