SANTA CLARA, Calif., March 12, 2025 – Intel Corporation (Nasdaq: INTC) has announced the appointment of Lip-Bu Tan as its new Chief Executive Officer, effective March 18, 2025. Tan, a seasoned technology leader with extensive experience in the semiconductor industry, will replace Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He will also rejoin Intel’s board of directors, having previously stepped down in August 2024.
Leadership Transition at Intel
Following Tan’s appointment:
- David Zinsner will continue as Executive Vice President and Chief Financial Officer.
- Michelle (MJ) Johnston Holthaus will remain CEO of Intel Products.
- Frank D. Yeary, who temporarily assumed the role of Interim Executive Chair during the CEO search, will return to his previous role as Independent Chair of the Board.
Industry Praise for Lip-Bu Tan
Frank D. Yeary highlighted Tan’s extensive industry knowledge and leadership capabilities, stating:
“Lip-Bu is an exceptional leader whose deep expertise in technology, strong relationships across the product and foundry ecosystems, and proven ability to create shareholder value make him the ideal choice for Intel’s next CEO. He has a track record of customer-centric innovation and fostering high-performance cultures.”
Yeary emphasized Tan’s ability to drive Intel’s transformation and capitalize on future growth opportunities:
“We are excited to have Lip-Bu at the helm as we accelerate Intel’s turnaround and unlock its full potential.”
Lip-Bu Tan’s Vision for Intel
Expressing his enthusiasm for the role, Tan said:
“I am honored to join Intel as CEO. This is an iconic company with immense potential, and I see significant opportunities to reshape our business to better serve customers and create value for shareholders.”
Tan outlined his confidence in Intel’s strengths:
“With Intel’s differentiated computing platform, vast customer base, and expanding manufacturing footprint, the company is well-positioned for the future. I look forward to building on the progress the Intel team has made in strengthening our process technology roadmap.”
Acknowledgment of Interim Leadership
Yeary extended gratitude to Zinsner and Johnston Holthaus for their contributions:
“On behalf of the board, I want to thank Dave and Michelle for their dedication as interim co-CEOs. Their leadership has provided stability as Intel continues to refine its execution, advance product leadership, and rebuild investor confidence.”
Lip-Bu Tan’s Industry Background
Tan brings over 20 years of experience in semiconductors and software, with deep industry relationships:
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- CEO of Cadence Design Systems (2009-2021): Led the company’s transformation, doubling revenue, expanding margins, and achieving a 3,200% stock price increase.
- Chairman & Board Roles: Served as a Cadence board member for 19 years, later as Executive Chairman (2021-2023). Currently serves on the boards of Credo Technology Group and Schneider Electric.
- Venture Leadership: Founding Managing Partner of Walden Catalyst Ventures and Chairman of Walden International.
Tan holds:
- B.S. in Physics from Nanyang Technological University, Singapore.
- M.S. in Nuclear Engineering from the Massachusetts Institute of Technology.
- MBA from the University of San Francisco.
- 2022 Robert N. Noyce Award Recipient, the Semiconductor Industry Association’s highest honor.
Looking Ahead
Intel’s appointment of Lip-Bu Tan signals a renewed focus on innovation, execution, and strategic growth. As the company strengthens its technology roadmap and foundry strategy, Tan’s leadership is expected to drive Intel toward a new era of success.
