Intel Corporation today announces the appointment of Lip-Bu Tan, an accomplished technology leader with deep semiconductor industry experience, as chief executive officer, effective March 18. He succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. 

Tan will also rejoin the Intel board of directors after stepping down from the board in August 2024. Frank D. Yeary, who took on the role of interim executive chair of the board during the search for a new CEO, will revert to being the independent chair of the board upon Tan becoming CEO. Zinsner will remain executive vice president and chief financial officer, and Johnston Holthaus will remain CEO of Intel Products.

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On his appointment, Tan said, “I am honored to join Intel as CEO. I have tremendous respect and admiration for this iconic company, and I see significant opportunities to remake our business in ways that serve our customers better and create value for our shareholders."

Equipped with 20+ years of Experience

Tan is a longtime technology investor and widely respected executive with more than 20 years of semiconductor and software experience as well as deep relationships across Intel’s ecosystem. He formerly served as CEO of Cadence Design Systems from 2009 to 2021, where he led a reinvention of the company and drove a cultural transformation centered on customer-centric innovation. During his time as CEO, Cadence more than doubled its revenue, expanded operating margins, and delivered a stock price appreciation of more than 3,200%.