Intel has appointed Lip-Bu Tan as Chief Executive Officer with effect from March 18. He succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Tan will also rejoin the Intel Board of Directors, where he previously served until August 2024.
Zinsner will remain Executive Vice President and Chief Financial Officer, and Johnston Holthaus will continue as CEO of Intel Products. Frank D. Yeary, who has assumed the role of Chairman of the Board on an interim basis during the search for a new CEO, will become the independent Chairman of the Board again when Tan assumes the CEO position.
Tan is a longtime technology investor and executive with more than 20 years of experience in the semiconductor and software industries and strong relationships across the Intel ecosystem. From 2009 to 2021, he was CEO of Cadence Design Systems, where he reinvented the company and drove a cultural shift focused on customer-centric innovation. During his time as CEO, Cadence more than doubled its revenue, expanded operating margins and increased its share price by more than 3,200%.
Tan was a member of Cadence’s Board of Directors for 19 years, from his appointment in 2004 until serving as Executive Chairman from 2021 to 2023 following his tenure as CEO.
Tan holds a Bachelor of Science in Physics from Nanyang Technological University in Singapore, a Master of Science in Nuclear Engineering from MIT and an MBA from the University of San Francisco. (jr)
