Intel named Lip-Bu Tan as its new chief executive officer, effective March 18, 2025. Tan, a veteran semiconductor executive and investor, previously served as CEO of Cadence Design Systems and has deep ties across the chip industry. He replaces interim co-CEOs David Zinsner and Michelle Johnston Holthaus, who took over leadership while Intel’s board searched for a permanent successor. Zinsner will continue as chief financial officer, and Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who served as interim executive chair, will return to his role as independent board chair.
Tan brings more than two decades of experience in semiconductors and software, with a track record of driving growth and innovation. As CEO of Cadence from 2009 to 2021, he led the company’s transformation, doubling its revenue and significantly increasing its stock value. He also founded Walden Catalyst Ventures and chairs Walden International, a venture firm focused on deep-tech investments. His appointment comes at a critical time for Intel as the company works to rebuild its process technology leadership, expand its foundry business, and regain investor confidence.
Intel board chair Yeary praised Tan’s industry expertise and customer-focused leadership, stating, “Lip-Bu is an exceptional leader whose deep relationships across the product and foundry ecosystems will help drive Intel’s turnaround and long-term success.”
• Lip-Bu Tan becomes Intel’s CEO on March 18, 2025.
• He replaces interim co-CEOs David Zinsner and Michelle Johnston Holthaus.
• Tan previously led Cadence Design Systems, doubling its revenue and expanding margins.
• He has extensive semiconductor and investment experience, including roles at Walden Catalyst Ventures and Walden International.
• Intel aims to strengthen its technology roadmap and foundry business under Tan’s leadership.
“I am honored to join Intel as CEO,” said Tan. “I see significant opportunities to remake our business in ways that serve our customers better and create value for our shareholders.”
- Lip-Bu Tan is the founder and chairman of Walden International, a venture capital firm he established in 1987 that specializes in investments in the semiconductor, technology, and related sectors, such as cloud infrastructure, data management, and AI/machine learning. Under Tan’s leadership, Walden International has been instrumental in the growth of numerous semiconductor and technology companies, including Ambarella Inc., Credo Technology Group Holding Ltd., and Inphi Corporation (acquired by Marvell in 2021). Beyond his venture capital achievements, Tan has made significant contributions to the semiconductor industry through extensive board involvement. He has served on the boards of several prominent companies, including Advanced Micro-Fabrication Equipment Inc. China (AMEC) from 2005 to 2020, Cadence Design Systems (where he was CEO from 2009 to 2021, executive chairman until recently, and a board member since 2004), and Semiconductor Manufacturing International Corporation (SMIC).
- Intel’s former CEO, Pat Gelsinger, stepped down on December 1, 2024, after leading the company for nearly four years. Gelsinger, who began his career at Intel in 1979 and served as its first Chief Technology Officer, returned as CEO in February 2021 following a tenure as CEO of VMware. His strategic initiatives included the ‘IDM 2.0’ plan, aiming to revitalize Intel’s manufacturing capabilities and establish Intel Foundry Services to compete with industry giants like TSMC and Samsung. However, during his tenure, Intel faced challenges such as delayed product launches and increased competition, leading to a significant decline in its share price.