Intel appoints Malaysian-born chip industry veteran Tan Lip Bu as CEO

Intel is undergoing one of its bleakest periods, as it struggles to cash in on a boom in advanced AI chips that has benefited rival Nvidia

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Intel has appointed chip industry veteran Lip-Bu Tan as CEO, effective March 18. Photo: Handout

Published: 10:42am, 13 Mar 2025Updated: 11:34am, 13 Mar 2025

Intel on Wednesday named former board member and chip industry veteran Tan Lip Bu as its CEO and signalled the struggling but storied chipmaker was unlikely to split up its chip-design and manufacturing operations.

The appointment, effective March 18, comes three months after Intel ousted CEO and company veteran Pat Gelsinger, whose costly and ambitious plan to turn the company around was faltering and sapping investor confidence.

Tan, a former Intel board member, had been seen as a CEO contender thanks to his deep experience in the chip industry, as well as a long-time technology investor in promising start-ups. He was approached by Intel’s board in December to gauge his interest in taking up the job.

“Together, we will work hard to restore Intel’s position as a world-class products company, establish ourselves as a world-class foundry and delight our customers like never before,” Tan said in a letter to Intel employees on Wednesday.

Intel shares surged 12 per cent in extended trading on Wednesday, and analysts welcomed the move that they said was likely to bring some stability to the chipmaker. The company’s stock had declined 60 per cent in 2024.

The Intel headquarters in Santa Clara, California. Photo: AP

Intel is undergoing a historic transition as it attempts to emerge from one of its bleakest periods.