March 13, 2025 – Intel Appoints Lip-Bu Tan as Its First Chinese-American CEO
After a three-month search, Intel has finally named Lip-Bu Tan as its new CEO, effective March 18th. This marks a historic moment for the 57-year-old tech giant, as Tan becomes Intel’s first-ever Chinese-American CEO. Notably, all four major US chip companies are now led by individuals of Chinese descent: Tan at Intel, Jen-Hsun Huang at NVIDIA, Lisa Su at AMD, and Hock Tan at Broadcom.
The question on everyone’s mind is: what did Intel’s board see in Lip-Bu Tan that led them to choose a Chinese-American as CEO after such a lengthy selection process? In a company-wide letter, Frank D. Yeary, Independent Chairman of Intel’s board, explained that the search committee considered and met with many strong leaders over the past three months. “I am delighted to announce the appointment of Lip-Bu Tan as our CEO,” Yeary stated. “Lip-Bu is an outstanding leader with deep industry expertise, extensive relationships in the product and foundry ecosystems, and a proven track record of creating shareholder value — exactly what Intel needs in its next CEO.”
Tan, born in 1959 to a Chinese family in Malaysia and raised in Singapore, boasts an impressive academic background. He holds a Bachelor’s degree in Physics from Nanyang Technological University, a Master’s in Nuclear Engineering from MIT, and an MBA from the University of San Francisco. With a blend of technical know-how and business acumen, Tan entered the semiconductor industry as an investor before transitioning into executive roles.
From 2009 to 2021, as CEO of Cadence Design Systems, a leading electronic design automation software company, Tan doubled the company’s revenue, significantly improved profitability, and saw its stock price soar by over 3200%. His customer-centric innovation culture and extensive collaboration with semiconductor foundries and design firms have earned him a vast network in the industry. As the founder of Walden International, Tan has invested in numerous startups in the semiconductor and clean energy sectors, earning him a reputation as one of the most connected executives in tech. In 2022, he received the prestigious Robert N. Noyce Award, solidifying his status in the industry.
Tan is no stranger to Intel. He previously served on the board to help transform the company and was given oversight of the manufacturing business in October 2023. However, he parted ways with the board in August 2024 due to strategic differences with former CEO Pat Gelsinger, including disagreements over workforce size, foundry strategy, and work culture. Despite this, Tan cited personal reasons for his departure, emphasizing his continued support for Intel.
So, what qualities did Intel see in Tan? Firstly, his vision for Intel as an engineering-centric company. In his letter titled “Reinventing Our Company for the Future,” Tan assured the board that under his leadership, Intel would develop the best products, listen to customers, and build trust through accountability.
Secondly, Tan’s advocacy for making Intel a world-class foundry aligns with the company’s current strategy to strengthen its chip manufacturing business. His extensive network in the semiconductor supply chain and foundry ecosystem will be instrumental in expanding Intel’s client and partner relationships.
Thirdly, Tan aims to reform Intel’s internal culture and boost efficiency. He has criticized the company’s bureaucracy and advocated for streamlining management structures through layoffs. His pragmatic approach is expected to drive organizational culture change and accelerate decision-making.
Lastly, and most importantly, market confidence and shareholder value. Following the announcement, Intel’s stock price surged 10.42% in after-hours trading, reflecting investor confidence in Tan’s leadership. Tan emphasizes creating value for shareholders while prioritizing customer service, addressing Intel’s need to balance technical and commercial demands.
Tan faces numerous challenges, including accelerating the development of the 18A process, narrowing the gap with TSMC and Samsung, balancing proprietary chip development with foundry services, avoiding direct competition with clients like NVIDIA and AMD, and disrupting Intel’s traditional bureaucratic system to foster innovation.
Whether this Chinese-American CEO can lead Intel back to its glory days remains to be seen. However, one thing is clear: change is essential for Intel’s future.
