Lip-Bu Tan has been appointed as the new CEO of Intel Corporation, effective March 18, 2025. The tech giant, which supplies chips to the majority of computer system manufacturers, made the announcement in a statement on Sunday.
Tan takes over from Michelle Holthaus and David Zinsner, who served as interim co-CEOs. According to the company, he will also return to the Intel Board of Directors after departing in August 2024.
Tan takes over as temporary CEO in place of Michelle Holthaus and David Zinsner. According to the corporation, he will also return to the Intel board of directors after leaving in August 2025.
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Zinsner to remain as Executive Vice President and Chief Financial Officer
The CEO of Intel Products will be Johnston Holthaus, while Zinsner will continue to serve as Executive Vice President and Chief Financial Officer.
Frank Yeary, who served as the board’s temporary executive chair while a new CEO was being sought, will return to his position as the board’s independent chair after Tan is appointed CEO.
Encomiums on new Intel’s CEO
“Lip-Bu 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,” Yeary said.
He added, “Throughout his long and distinguished career, he 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 Lip-Bu in the past and have seen firsthand how his relentless attention to customers drives innovation and success,” he continued.
He further stated, “We are delighted to have Lip-Bu as our CEO as we work to accelerate our turnaround and capitalise on the significant growth opportunities ahead.”
“On behalf of the board, I would like to thank Dave and Michelle for their steadfast leadership as interim co-CEOs,” he acknowledged.
“Their discipline and focus have been a source of stability as we continue the work needed to deliver better execution, rebuild product leadership, advance our foundry strategy, and begin to regain investor confidence,” he emphasised.
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Tan’s acceptance speech
On his appointment, Tan said that he felt, “honoured 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.”
He continued, “Intel has a powerful and differentiated computing platform, a vast customer installed base, and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap.”
“I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future,” he concluded.