Kuala Lumpur: Intel Corporation has appointed Tan Lip Bu, a veteran in the semiconductor industry, as the new chief executive officer (CEO), effective March 18. Tan, who hails from Malaysia, will take over from interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He is also set to rejoin the Intel board of directors after a brief hiatus in August 2024.
According to BERNAMA News Agency, Tan is a seasoned technology investor and executive with over two decades of experience in the semiconductor and software fields. He is recognized for his extensive network within Intel’s ecosystem. During his tenure as CEO of Cadence Design Systems from 2009 to 2021, Tan successfully reinvented the company and spearheaded a cultural transformation focused on customer-centric innovation.
Tan served on the Cadence board for 19 years, beginning in 2004, and continued as executive chairman from 2021 to 2023 after his term as CEO concluded. Frank D. Yeary, the independent chair of the Intel board of directors, praised Tan as an outstanding leader with a strong track record in the technology industry, highlighting his ability to create shareholder value and foster high-performance cultures.
Yeary emphasized Tan’s reputation as an innovator who prioritizes customer needs, delivers unique solutions, and drives market success. He noted that Tan’s attention to customer demands has been instrumental in propelling innovation and achieving positive outcomes.
In addition to his role at Intel, Tan is the founding managing partner of Walden Catalyst Ventures and the chairman of Walden International. He also serves on the boards of Credo Technology Group and Schneider Electric, bringing significant public company board experience. Tan holds academic degrees in physics, nuclear engineering, and business administration from prestigious institutions.
In 2022, Tan was honored with the Robert N. Noyce Award, the highest accolade from the Semiconductor Industry Association. In a memo to Intel employees, Tan expressed his confidence in revitalizing the company while acknowledging the challenges ahead. He emphasized his belief in Intel’s pivotal role in the global technology ecosystem and his admiration for the company’s contributions to world-changing innovations.