Intel Appoints Lip-Bu Tan as CEO: Can He help the Semiconductor Giant Regain Its Shine?

Intel appointed tech industry veteran Lip-Bu Tan as its new CEO on Wednesday. The 65-year-old Tan would be taking over the charge of the chipmaker giant from March 18. His appointment comes at a time when Intel is struggling to regain its dominance in the tech industry as it faces competition from rivals like Nvidia. 

“Intel Corporation’s board of directors has appointed Lip-Bu Tan, an accomplished technology leader with deep semiconductor industry experience, as chief executive officer, effective March 18,” said Intel in a statement. He will also rejoin the Intel board of directors in August 2024, the note added.

Also Read: Pat Gelsinger Finds A Way to Support Intel's 100k Troubled Employees - Here's How

Who is Intel’s New CEO? 

Tan graduated with Bachelor of Science from Nanyang Technological University in Singapore then went on to pursue Master of Science in nuclear engineering from the Massachusetts Institute of Technology and an MBA from the University of San Francisco.  

He has more than 20 years of expertise in the semiconductor and software sector. He has led Cadence Design Systems from 2009 to 2021 as CEO. Besides this, Tan is a founding managing partner of Walden Catalyst Ventures and chairman of Walden International. Presently, he serves on the boards of Credo Technology Group and Schneider Electric. 

Also Read: Intel Plans a Mega Revival: Will Investors in its Stocks Benefit?

In 2022, the 65-year-old tech industry veteran was awarded with Robert N. Noyce Award, the highest honor of the Semiconductor Industry Association. 

Can Tan Help Intel Regain Leadership? 

Tan’s appointment comes at a time when Intel is going through the worst crisis since its formation, mainly as it is struggling to compete in the AI-driven semiconductor race. In 2018, the company failed to acquire a significant stake in OpenAI, followed by its repeated failure to manufacture a blockbuster AI chip. This happened around the time when its rival, Nvidia, marched to capitalise on the AI boom. The chipmaking giant is “nearing an existential crisis”, according to a Reuters report that cited Bernstein analyst Stacy Rasgon.