Intel has appointed Lip-Bu Tan as its new CEO, effective March 18, following the dismissal of long-time executive Pat Gelsinger. Tan, recognized for his extensive experience in the semiconductor industry, was previously a board member and seen as a top contender for the role for several months. The market responded positively to the announcement, with Intel's shares climbing 11% in after-hours trading, indicating investor confidence in Tan's leadership and direction for the company.
"Intel has appointed Lip-Bu Tan as CEO after ousting Pat Gelsinger, with shares up 11% in after-hours trading, reflecting investor optimism."
"Tan, a notable semiconductor industry veteran, had been seen as a potential CEO candidate for some time, indicating strong trust from Intel's board."
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