US EditionIntel appoints Lip-Bu Tan as new CEO, stock up 11%
- Intel Corp appointed Lip-Bu Tan as its new CEO, starting next week, amid challenges in the semiconductor industry.
- Following the announcement, Intel shares rose by 11%, reflecting investor optimism about Tan's leadership.
- Tan aims to focus on engineering and address Intel's issues in AI chip production, stating, 'It won’t be easy.'
- Previously, Intel faced market-share losses and significant job cuts as it struggled to compete with companies like Nvidia and TSMC.
208 Articles
208 Articles
Intel's new CEO tasked with turning around chip giant
Intel on Wednesday announced a new CEO will be taking the helm of the chipmaker. When incoming CEO Lip-Bu Tan assumes the position at Intel next week, he will have the job of revitalizing the company and making it more competitive."I am honored to join Intel as CEO," he said in a statement. "I have tremendous respect and admiration for this iconic company, and I see significant opportunities to remake our business in ways that serve our customer…
Who Is Lip-Bu Tan, Intel’s New Turnaround CEO?
Intel’s stock is soaring after Lip-Bu Tan, a respected veteran in the semiconductor industry, was chosen as its new CEO. The appointment comes three months after the chipmaker, which falling behind in the A.I. race pushed out former head Pat Gelsinger. “I am honored to join Intel as CEO,” said Tan, 65, in a statement. “I have tremendous respect and admiration for this iconic company, and I see significant opportunities to remake our business in …
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