Intel has announced the appointment of Lip-Bu Tan, a highly accomplished technology leader with extensive semiconductor industry experience, as its new chief executive officer, effective March 18. Tan will succeed Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Additionally, Tan will rejoin the Intel board of directors, having previously stepped down from the board in August 2024.
Lip-Bu Tan was appointed chief executive officer of Intel Corporation in March 2025. He also serves on the company’s board of directors.
Zinsner will continue in his role as executive vice president and chief financial officer, while Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who served as interim executive chair of the board during the CEO search, will return to his position as independent chair of the board once Tan assumes the CEO role.
“Lip-Bu is an exceptional leader whose technology industry expertise, deep relationships across the product and foundry ecosystems, and proven track record of creating shareholder value is exactly what Intel needs in its next CEO,” Yeary said. “Throughout his long and distinguished career, he has earned a reputation as an innovator who puts customers at the heart of everything he does, delivers differentiated solutions to win in the market and builds high-performance cultures to achieve success.
“Like many across the industry, I have worked closely with Lip-Bu in the past and have seen firsthand how his relentless attention to customers drives innovation and success,” Yeary continued. “We are delighted to have Lip-Bu as our CEO as we work to accelerate our turnaround and capitalize on the significant growth opportunities ahead.”
Upon his appointment, Tan stated, “I am honored to join Intel as CEO. I have tremendous respect and admiration for this iconic company, and I see significant opportunities to remake our business in ways that serve our customers better and create value for our shareholders.
“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,” Tan continued. “I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future.”
Yeary added, “On behalf of the board, I would like to thank Dave and Michelle for their steadfast leadership as interim co-CEOs. Their discipline and focus have been a source of stability as we continue the work needed to deliver better execution, rebuild product leadership, advance our foundry strategy and begin to regain investor confidence.”
Tan is a seasoned technology investor and widely respected executive with over two decades of experience in semiconductors and software, as well as deep connections across Intel’s ecosystem. He previously served as CEO of Cadence Design Systems from 2009 to 2021, where he spearheaded a company-wide reinvention and fostered a cultural transformation focused on customer-centric innovation. Under his leadership, Cadence more than doubled its revenue, expanded operating margins, and achieved a stock price appreciation of over 3,200%.
Tan was a member of the Cadence board of directors for 19 years, from his appointment in 2004 through his tenure as executive chairman from 2021 to 2023, following his time as CEO.
He is also a founding managing partner of Walden Catalyst Ventures and chairman of Walden International. Tan has significant public company board experience, currently serving on the boards of Credo Technology Group and Schneider Electric.
Tan holds a Bachelor of Science in physics from Nanyang Technological University in Singapore, a Master of Science in nuclear engineering from the Massachusetts Institute of Technology, and an MBA from the University of San Francisco. In 2022, he was honored with the Robert N. Noyce Award, the Semiconductor Industry Association’s highest recognition.
