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:

• 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.

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Meta is preparing to cut around 5% of its workforce, with a focus on its lowest-performing employees, CNBC confirmed on Tuesday. CEO Mark Zuckerberg informed staff about the decision in an internal memo posted on the company’s Workplace forum.

Zuckerberg emphasized that 2025 would be an “intense year” for the company, urging the team to step up performance and align with Meta’s future goals. The company plans to exit approximately 5% of its lowest-performing staff. Meta, which employs over 72,000 people, will notify affected workers by February 10. Employees let go will receive severance packages, similar to those offered during previous layoffs.

These upcoming cuts mark Meta’s largest reduction since 2022-2023, when it eliminated nearly a quarter of its workforce—21,000 jobs—due to restructuring efforts. Bloomberg was the first to report on the cuts, which come after other significant operational changes within Meta.

In addition to the layoffs, Zuckerberg has made waves in other areas, particularly with the company’s approach to content moderation. Last week, Meta announced the end of its third-party fact-checking program in favor of a “Community Notes” model, similar to that used on Elon Musk’s platform X. Zuckerberg shared that this shift reflects a cultural pivot toward prioritizing free speech, aiming to reduce errors, simplify policies, and restore open expression.

Below is the full internal memo from Mark Zuckerberg, obtained by CNBC:

Meta is working on some of the most important technologies in the world, from AI to the next generation of glasses and social media. As we face an intense year ahead, I want to ensure we have the best people on our teams.

To that end, I’ve decided to raise the bar on performance management and move out low performers more quickly. In the past, we’ve given employees up to a year to meet expectations, but now we’re making more performance-based cuts during this cycle, with the intention to backfill these roles in 2025.

We will not let go of everyone who didn’t meet expectations if we see potential for improvement. For those impacted, we’ll provide generous severance, consistent with our previous layoffs.

Managers will receive further guidance ahead of calibrations. Affected employees will be notified by February 10 (later for those outside the U.S.).

Meta’s decision to streamline its workforce is aimed at aligning with its broader vision for the future and improving the overall performance of its teams in the face of an increasingly competitive tech landscape.

Source

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