Intel has appointed new CEO and board member Lip-Bu Tan, who will take up the post on 18 March, having previously served as CEO of chip design firm Cadence.
Tan’s appointment follows the departure of former CEO Pat Gelsinger in August 2024, when it was reported he was ousted by the board of directors over losses incurred during his tenure.
Intel has been struggling to keep up with rival chipmakers and it is unclear whether Tan will continue with the company’s previous strategy of winning with its own chipmaking operations.
In a memo to staff, Tan said Intel would focus on “world-class manufacturing and design” and “disrupt and leapfrog” competitors.
He also promised to “take calculated risks” to deliver those outcomes.