Intel Names Lip-Bu Tan Tan

Intel said on Wednesday that he appointed Lip-Bu Tan as a new CEOWhen the chips manufacturer tries to recover after a tumultuous four -year run under Pat Helinger. The stock jumped 12% in extended auction.

Earlier, Tan was CEO CADEnce Design Systems, making the software used by all major chips designers, including Intel. He was a member of the Intel board but went last year, citing other commitments.

Tan replaces the temporary compatriots of David Zinner and MJ Holthaus, who assumed the post in December when former Intel Patrick Gelsinger’s CEO was rejected. Tan also returns to the Intel Council.

The appointment closes the chaotic chapter in the history of Intel as investors are putting pressure on a semiconductor company to reduce costs and unscrew the enterprises from the decrease in sales and the inability to hack the market for prosperous artificial intelligence.

“In the areas where we have impetus, we need to double and expand our advantage,” Tano said statement On the Intel site. “In the areas where we are lagging behind the competition, we need to take the calculated risks to disrupt and jump. And in areas where our progress was slower than expected, we need to find ways.”

Tan becomes the fourth Permanent CEO in Intel for seven years. After Brian Krzanich’s resignation in 2018 after being exposed with inadequate relations with employee Bob Suan took the helm In January 2019, he went two years after Intel suffered numerous blows from competitors and chips delay. Swan changed Helinger in 2021.

Geelger has taken over a bold plan to convert Intel business to make chips for other companies in addition to his own, becoming a foundry. But the total income from Intel’s products continued to decline, and investors were igniting the considerable capital expenses required for such large -scale chips, including the construction of a factory complex in Ohio $ 20 billion.

Last fall, after a disappointing income report, Intel was on sale and was reportedly aroused by rival companies including Qualcomm. Analysts assessed Intel to disable the foundry department or sell their products – including the server and PC chips.

The AI ​​Intel has succeeded all over NvidiaWhose graphic units (graphic processors) have become a chip of choice for developers over the past few years.

Frank Eddie, who took on the role of a temporary executive chair while searching the CEO, said in A press -release This tan has “proven results of the value of shareholders”.

“We are glad that Lip-Bu as our CEO, when we are working to accelerate the turn and take a significant growth opportunity,” said the hour, which is now returning to an independent chair.

In January Intel Issued a weak forecast Even if it wins for profit and profit. The company pointed to seasonality, economic conditions and competition and stated that customers are digested inventory. The tariff prospect added uncertainty, Zinner said at the time.

Intel said Zinnsner would return to his previous role of the financial director. Holthaus will remain on the management of Intel products.

Intel was removed With Dow Jones Industrial Medium in November and was replaced by NVIDIA, which reflects the dramatic change of success in the semiconductor industry. Last year, Intel’s shares lost 60% of their cost, and Nvidia’s shares increased by 171%. At the closure on Wednesday, the Intel market restriction amounted to $ 89.5 billion, less than one part of Nvidia’s estimate.

See: Intel appoints a lip-bo tanning director