Intel Corporation announced on Wednesday that Lip-Bu Tan will become its chief executive officer, effective March 18, 2025, following the retirement of CEO Pat Gelsinger, who stepped down from the company and the board of directors on December 1, 2024.
Tan, a seasoned technology leader with deep semiconductor experience, succeeds Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. Tan will also rejoin Intel’s board of directors, which he left in August 2024.
The company confirmed that Zinsner will continue as Executive Vice President and Chief Financial Officer, while Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who served as Interim Executive Chair during the CEO search, will return to his role as the board’s independent chair once Tan takes over.
Frank D. Yeary said,
Lip-Bu is an exceptional leader with deep industry knowledge, strong relationships across the semiconductor ecosystem, and a proven track record of creating value for shareholders.
He noted Tan’s reputation for innovation, customer focus, and building strong teams. Yeary added that Tan’s skills will help Intel accelerate its turnaround, improve execution, advance its foundry strategy, and seize growth opportunities.
Yeary also thanked Zinsner and Johnston Holthaus for their steady leadership as interim co-CEOs. He said their discipline provided stability as Intel works to rebuild product leadership and regain investor confidence.
Upon his appointment, Lip-Bu Tan expressed his excitement, saying,
Intel has a powerful and differentiated computing platform, a vast customer installed base, and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap.” He looks forward to leading Intel’s team to shape the company’s future and boost shareholder value. I look forward to leading the team in shaping the future.