Intel Corp Appoints Chip Industry Veteran Tan Lip Bu As CEO
KUALA LUMPUR, March 13 (Bernama) -- Intel Corporation has appointed Malaysian-born Tan Lip Bu, an accomplished technology leader with deep semiconductor industry experience, as chief executive officer (CEO) effective March 18.
In a statement today, Intel said Tan succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He will also rejoin the Intel board of directors after stepping down in August 2024.
“Tan is a longtime technology investor and widely respected executive with more than 20 years of semiconductor and software experience (and has) deep relationships across Intel’s ecosystem,” the statement said.
He served as Cadence Design Systems CEO from 2009 to 2021. He led a reinvention of the company and drove a cultural transformation centred on customer-centric innovation.
He was on the Cadence board for 19 years, from his appointment in 2004 through his service as executive chairman from 2021 to 2023 following his tenure as CEO, the statement said.
Independent chair of the Intel board of directors Frank D. Yeary said Tan is an exceptional leader whose technology industry expertise, deep relationships across the product and foundry ecosystems, and proven track record of creating shareholder value is exactly what Intel needs in its next CEO.
“Tan has earned a reputation as an innovator who puts customers at the heart of everything he does, delivers differentiated solutions to win in the market and builds high-performance cultures to achieve success.
“Like many across the industry, I have worked closely with Tan in the past and have seen firsthand how his relentless attention to customers drives innovation and success,” Yeary said.
According to the statement, Tan is also Walden Catalyst Ventures founding managing partner and Walden International chairman. He has significant public company board experience and is currently serving on the boards of Credo Technology Group and Schneider Electric.
He holds a Bachelor of Science in physics from Singapore’s Nanyang Technological University, a Master of Science in nuclear engineering from the Massachusetts Institute of Technology and a Master of Business Administration from the University of San Francisco.
In 2022, he received the Robert N. Noyce Award, the Semiconductor Industry Association’s highest honour, it added.
In a memo to Intel employees, Tan said he is confident he can turn the business around.
“That’s not to say it will be easy. It won’t be. But I am joining because I believe with every fiber of my being that we have what it takes to win. Intel plays an essential role in the technology ecosystem, both in the US and around the world.
“Intel is a company I have long admired. Since I was a child, I have been captivated by the power of science, technology and engineering — and Intel’s innovation has been at the heart of so many world-changing breakthroughs along the way,” he said in a separate statement.
-- BERNAMA