After a tumultuous period leading to several quarters of losses, Intel has appointed Lip-Bu Tan as its new CEO, effective March 18. Tan replaces interim co-CEOs David Zisner and Michelle Johnston Holthaus, who will continue their previous roles within the company. The shift comes after the board ousted former CEO Pat Gelsinger due to unsuccessful efforts in transforming Intel into a competitive foundry company, a strategy that faced challenges against rivals like TSMC and Samsung. Tan's experience on Intel's board and other technology companies positions him for this leadership role.
Lip-Bu Tan will become Intel's new CEO on March 18, replacing interim co-CEOs David Zisner and Michelle Johnston Holthaus.
The previous CEO Pat Gelsinger was ousted due to losses, layoffs, and difficulties in turning Intel into a foundry company.
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