In a major upheaval, technology behemoth Intel has named industry stalwart Lip-Bu Tan its new CEO, who will take over on March 18, 2025. The move propelled Intel shares by more than 10% in after-hours trading, a sign of positivity among investors.
This leadership transition couldn’t have come at a more opportune moment for Intel. Having once been a semiconductor manufacturing pioneer, the company has been trying to regain its stride in the wake of intense competition from Nvidia, Taiwan’s TSMC, and South Korea’s Samsung. With Tan taking over, expectations are high for a much-needed revival.
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Who is Lip-Bu Tan?
Tan was born in 1959 in Muar, Malaysia. He is of Malaysian-Chinese descent, and grew up in Singapore, where he graduated with a degree in physics from Nanyang University. He later traveled to the U.S. to study for a Master’s in Nuclear Engineering at the Massachusetts Institute of Technology (MIT).
But after the 1979 Three Mile Island nuclear accident, the industry collapsed, and Tan changed direction. He later went on to do an MBA from the University of San Francisco. Tan’s professional life has been nothing less than extraordinary. He started Walden International, a venture capital company, in 1987.
With his strategic investments in semiconductor and digital media start-ups in the U.S. and Asia, Tan was recognized by Forbes as the “Pioneer of Asian VC” in 2001.
A track record of success
Tan’s leadership of Cadence Design Systems cemented his legacy further. He joined the company’s board in 2004, became interim CEO in 2008, and then formally became CEO in 2009. Cadence’s net value reached $1.3 billion by 2012 under his leadership, with big-ticket acquisitions such as Tensilica in 2013 cementing its position in the chip design sector.
His strong ties in the technology sector have made him one of the most influential people in the industry, with a flawless “power score” from Relationship Science in 2017.
Can Tan revive Intel?
Taking Intel over is no easy task. The firm has been struggling with shrinking market share and falling behind in innovation as the world experiences fast-paced growth in AI and sophisticated chip manufacturing. Tan’s background in the semiconductor industry and his ability to spot new technologies, however, might be just what Intel needs to get back on top.
With his appointment, Tan will not just be heading Intel’s strategy but also sit on the board of directors in August 2025.
As the world waits with bated breath, everyone’s eyes are now on Lip-Bu Tan to determine if he can take Intel back to where it used to be.
