Intel stocks surge as Lip-Bu Tan is appointed CEO

Intel stocks have had a resurgence, trending 12% since the company's new chief executive Lip-Bu Tan was appointed. The move follows the retirement of former CEO Pat Gelsinger in December 2024, who was later found to have been pushed out.

2

Credit: Intel

As detailed in a company press release, Tan will be stepping into the CEO role March 18th, taking over from interim co-CEOs David Zinsner and Michelle Johnston Holthaus. Zinser will retain an executive role as Intel's CFO, and Holthaus will remain the CEO of Intel products.

The company outlined Tan's experience as a technology investor and widely respected executive in the sector. Tan has over 20 years of experience with semiconductors and software, and has established relationships across the ecosystem that the company believes to be beneficial.

Tan's prior experience came as the CEO of Cadence Design Systems, more than doubling the company's revenue during his tenure, and delivering stock price increases of 3200%. He also held a position on Intel's board for two years, before eventually departing in August 2024.

"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," Frank D. Yeary, independent chair of the board, said in the company's press release.

During his first statement as CEO, Tan reiterated his commitment to restoring Intel's position as a world-class products company - highlighting that intel will be "an engineering-focused company" that will "take calculated risks to disrupt and leapfrog" in the future.

"That's not to say it will be easy. It won't be. But I am joining because I believe with every fiber of my being that we have what it takes to win," Tan wrote.

While the company's outlook is currently positive among investors, Intel has a lot of ground to cover after the company's American corporation reported $18.8B in losses in 2024 - one of the worst years in Intel's history. Naturally, keeping pace with NVIDIA will be the priority, and Tan will need to execute a clear strategy to regain market share in AI and high-performance computing, areas where Intel has fallen behind.