Intel Appoints Industry Veteran Tan Lip-Bu, Who Grew Up in S'pore, as CEO

Intel has named Mr Tan Lip-Bu as its next chief executive officer, entrusting a former board member and semiconductor veteran with one of the toughest jobs in the chip industry.

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SAN FRANCISCO -

Mr Tan, 65, will assume the role on March 18, the company said in a statement on March 12. He will rejoin the board, as he had stepped down in August 2024.

Mr Tan, the former head of Cadence Design Systems, is tasked with restoring the fortunes of a pioneering chipmaker that has become an industry laggard. Intel, which dominated the semiconductor field for decades, is struggling with market-share losses, manufacturing setbacks and a precipitous decline in its earnings. It is also burdened with debt and recently had to slash about 15,000 jobs.

Born in 1959 in Muar, Johor, Mr Tan grew up in Singapore, where he attended Nanyang University and studied physics. He later went to the Massachusetts Institute of Technology, gaining a master's in nuclear engineering. He gave up his studies for a doctorate in that field and left for the University of San Francisco, where he got an MBA.