Together, we will work hard to restore Intel’s position as a world-class products company, establish ourselves as a world-class foundry and delight our customers like never before,” Tan said in a letter to Intel employees on Wednesday.

Struggling U.S. chipmaker Intel on Wednesday named former board member Lip-Bu Tan as its CEO effective March 18.

Intel on Wednesday named former board member and chip industry veteran Lip-Bu Tan as its CEO and signaled the struggling but storied chipmaker was unlikely to split up its chip-design and manufacturing operations.

Intel ( INTC) named Lip-Bu Tan its new CEO, sending the chipmaker's stock higher in after-hours trading Wednesday. Tan, who is set to take the helm of Intel as of next Tuesday, is the former CEO of Cadence Design Systems ( CDNS ), a semiconductor software company that counts Intel among its partners.

Intel appointed Lip-Bu Tan as its CEO following the retirement of former CEO Pat Gelsinger in late 2024. In a press release, Intel said Tan will start as its chief executive officer effective March 18,

With a permanent CEO, Intel now has some stability. But turning around the design and manufacturing businesses won’t be easy.

In his letter to Intel employees, new chief executive officer Lip-Bu Tan, who starts his new job next Tuesday, tells them that he is “never deterred by

Incoming Intel Corp. Chief Executive Officer Lip-Bu Tan, who was named to the position this week, will receive compensation valued at about $69 million if he reaches targets over the coming years.

Intel 's newly appointed Chief Executive Officer (CEO), Lip-Bu Tan, will receive a compensation package worth around $69 million. The details of the package were revealed in a recent company filing. It includes an annual salary of $1 million and a performance-based bonus of up to 200%.

Intel appoints new CEO Lip-Bu Tan in 2025, signaling layoffs, a foundry push, and culture shift. Intel stock rises as it eyes a comeback.

U.S. chipmaker Intel's new CEO Lip-Bu Tan will receive an initial base salary of $1 million, the company said in a regulatory filing on Friday. Tan, who will take charge on March 18, will also be eligible for an annual cash bonus with a target payout of 200% of his base salary.