Intel has its new CEO. Lip-Bu Tan, formerly CEO of Cadence Design Systems, will take over as CEO, effective March 18.
He will replace interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus.
While Tan will put the uncertainty of the CEO search to bed, Intel still faces multiple challenges including Intel Foundry's losses and the chipmaker's positioning in AI data centers where Nvidia leads.
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Zinsner will remain CFO and Holthaus will remain CEO of Intel Products. Frank Yeary, interim executive chair, said Tan's track record, knowledge of the semiconductor industry and his role as a board member were big wins.
Tan said:
"Intel has a powerful and differentiated computing platform, a vast customer installed base and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap."
