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Intel has appointed Lip-Bu TanAn important number in the semiconductor industry, such as CEO, announced the company late Wednesday.
Tan succeeds interim co-coos David Zinsner and Michelle Johnston Holthhaus. He will also return to the Intel Board of Directors after resigning from the board in August 2024, said Intel. Zinsner remains Intel CFO, while Johnston Holthhaus CEO will remain the company’s Intel Products Division.
Tan, a long-time tech investor born in Malaysia, was formerly CEO from Cadence Design Systems. He was a manager at two energy companies, EDS Nuclear and Echo Energy, and partners of the Walden USA Investment Fund before founding the company in Walden International Foundation of Venture Capital companies in 1987.
Tan is exceptionally well networked in the tech industry and director in the Bedies of Hewlett Packard Enterprise, Schneider Electric and Softbank. He is also very respected as a managing director. After Intel announced the appointment of Tan, the company’s stock increased by 11%by trading with after-hours.
In a statementTan said that Intel will be a “technically oriented company” under his leadership.
“We will urge ourselves to develop the best products, listen to our customers carefully and to blame ourselves to the obligations we are entering into so that we can build trust,” he said. “We also have the responsibility to deliver for our shareholders – something that I concentrate on equally and expect our new focus on customers will be a result.”
