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On Wednesday, Intel announced that a new CEO would take the lead of the flea manufacturer.
When the incoming CEO, Lip-Bu tan, assumes the position In Intel Next week, he will have the job to revitalize the business and make it more competitive.
“I am honored to join Intel as CEO,” he said in a statement. “I have enormous respect and admiration for this emblematic company, and I see important opportunities to redo our business so as to better serve our customers and create value for our shareholders.”
(Reuters / Dado Ruvic / Illustration)
Tan will take the relay of Intel, which David Zinsner and Michelle Johnston Holtaus presented as an acting co-PDG since the departure of Pat Gelsinger at the end of last year, from Tuesday.
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“LIP-BU is an exceptional leader whose expertise in technological industry, deep relations through product and foundry ecosystems, and proven history of the value of shareholders are exactly what Intel needs in its next CEO,” said Frank Yeary d’Ill.
Tan supervised the Technology Company Cadence Design Systems as CEO for about 12 years, from 2009 to 2021, according to Intel.
The flea manufacturer said that Cadence had seen his income increase his size twice while Tan directed the company.
He is also one of the founding management partners of Walden Catalyst Ventures. This venture capital company declared on its website that its “objective” is “data, Deep Tech, IA, Cloud, Fintech and Digital Biology”.
Tan currently has board seats at CREDO Technology Group and Schneider Electric, according to Intel.
CEO of Intel Tan lips (Businesswire / Intel)
On the whole, he has more than two decades of “experiences of semiconductors and software as well as deep relations through the Intel ecosystem,” said society.
Tan should become a member of the Board of Directors of Intel when he becomes CEO. He was previously on the board of directors from September 2022 to August 2024.
Intel had trouble in the middle of the rivals as Nvidia and Taiwan Semiconductor Manufacturing Co., previously reported Fox Business.
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Tan said in a message published on the Intel website that he joined the company “because I believe with each fiber of my being that we have what it takes to win”.
“Intel plays an essential role in the technological ecosystem, in the United States and in the world. And, together, I am convinced that we can change our business,” he said.
Tan said that Intel “will push us to develop the best products, listening to our customers carefully and keeping us responsible for the commitments we make so that we establish confidence” under its direction.
“In the areas where we are behind the competition, we must take risks calculated to disturb and jump,” he also said in the message. “And in areas where our progress has been slower than expected, we have to find new ways to take the pace.”
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Intel generated $ 53.1 billion in revenues in 2024, marking a 2% drop on the other. He also experienced a net loss of $ 18.8 billion for the 12 -month period.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| Intruder | Intel Corp. | 23.70 | +3.02 |
+ 14.60% |
The company’s market capitalization oscillated approximately 103.15 billion dollars early Thursday afternoon.
Eric Revel contributed to this report.
