US EditionIntel appoints Lip-Bu Tan as new CEO, stock up 11%
- Intel Corp appointed Lip-Bu Tan as its new chief executive officer on March 18, boosting shares by over 10% in after-market trading.
- Tan, a former chief of Cadence Design Systems Inc., aims to restore Intel's competitiveness by focusing on engineering and enhancing its foundry strategy.
- The company's stock had declined more than 50% in the past year due to setbacks and increased competition from firms like Nvidia Corp.
- Analysts believe Tan's leadership could signal a potential turnaround for Intel, which remains a major player in the semiconductor market despite recent challenges.
211 Articles
211 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 …
INTC stock price surges over 15%: Could new Intel CEO Lip-Bu Tan turn the struggling chipmaker’s fortunes?
Shares of Intel Corporation (NASDAQ:INTC) surged more than 15% on Thursday as Wall Street welcomed the chipmaker’s appointment Wednesday of new CEO Lip-Bu Tan, just three months after the company ousted former CEO Pat Gelsinger. A widely respected executive with more than 20 years of experience in the semiconductor space, Tan will have a lot on his plate when he takes the helm at Intel on March 18. The ailing chipmaker has been mightily struggli…
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