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With Lip-Bu Tan now at the helm, the industry is watching closely to see how he will leverage his experience and leadership to steer Intel back to its former glory
The new CEO’s immediate challenge will be to revive Intel’s fortunes amidst increased competition and a declining stock price. (News18 Hindi)
Intel, the company powering 70% of the world’s computers, has appointed seasoned executive Lip-Bu Tan as its new CEO. This signals a renewed push to navigate the chipmaker through challenging times.
The move saw Intel’s share price jump by 11% despite a significant 54% drop over the past year, highlighting investor confidence in Tan’s leadership.
Tan, known for his business acumen and ability to turn around struggling companies, previously served on Intel’s board until just six months ago. He also served two stints as interim CEO, making him a familiar face within the company. His track record, however, extends far beyond Intel.
After obtaining degrees in physics and nuclear engineering, and an MBA, Tan embarked on a successful career in venture investing. He later joined the board of Cadence, an electronic design automation company, eventually becoming CEO in 2009.
During his near decade-long tenure, Tan transformed Cadence from a struggling firm to an industry leader, growing its market value from $10 billion to $30 billion. His ability to anticipate market trends and steer the company accordingly cemented his reputation as a visionary leader.
Tan’s immediate challenge will be to revive Intel’s fortunes amidst increased competition and a declining stock price. His deep understanding of the semiconductor industry, gained through his leadership at Cadence, which develops essential software used by Intel and its competitors, makes him uniquely equipped to tackle this challenge.
