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Updated: March 15, 2025 @ 5:24 pm
Pat Gelsinger
Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors.
WFMZ.com Reporter
The struggling U.S. chipmaker Intel has tapped a tech industry veteran as its next CEO.
The company announced that its board of directors has appointed Lip-Bu Tan to the post, effective March 18.
He succeeds interim, co-CEOs David Zinsner and Michelle Johnston Holthaus.
Previously, Pat Gelsinger held the CEO role. He was forced out in December of 2024.
Pat Gelsinger
Gelsinger grew up on a farm in Berks County. He attended Lincoln Tech in Allentown and was recruited by Intel while he was still a teenager. He moved to the West Coast and began his career with Intel in 1979 and was the company’s first chief technology officer. He later returned to the company as CEO in 2021.
Prior to his retirement, Intel announced it was cutting more than 15,000 jobs and pausing or delaying construction on several chipmaking facilities. Dozens of layoffs were announced at the company’s Allentown location in October of 2024.
Founded in 1968, Intel played an important role in the early rise of California’s Silicon Valley but has struggled in recent years to keep up with changes and advancements in chip technology. It’s also lagging behind in the AI race, playing catchup to rivals like Qualcomm and Nvidia.
Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors.
Tan has more than 20 years of semiconductor and software experience. He formerly served as CEO of the California-based Cadence Design Systems from 2009 to 2021, During his time there, Cadence more than doubled its revenue, expanded operating margins and delivered a stock price appreciation of more than 3,200%, according to a news release from Intel.
Tan is also a founding managing partner of Walden Catalyst Ventures, which invests in semiconductor, AI, quantum computing and other advanced technologies and companies.
“I am honored to join Intel as CEO,” said Tan, in the news release. “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.”
Last November, Intel lost its spot in the Dow Jones Industrial Average to Nvidia, following a 25-year run. Shares (NYSE: INTC) have tumbled over the past year. In April of 2024, they were above $44. They’ve been about half of that in recent days. But shares did open nearly $3.00 higher Thursday, following news of Tan’s appointment.
WFMZ.com Reporter
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