Chip industry veteran Lip-Bu Tan is Intel's new CEO

Something to look forward to: Intel's years-long struggle to stay competitive in the semiconductor market worsened last year as the company lost billions, forcing out CEO Pat Gelsinger. While the strategic direction of his successor remains unclear, early statements suggest that Intel will maintain its commitment to foundries, even as rivals propose partnerships and others question whether Intel should stay in the foundry market.

Intel's board has appointed former Cadence CEO Lip-Bu Tan as its new leader. An industry veteran, Tan has vowed to restore the fortunes of the once-dominant chip giant.

Tan previously served as the CEO of Cadence Design Systems, a major electronic systems design company, from 2009 to 2021, and was a board member from 2004 to 2023. He will also rejoin Intel's board of directors after stepping down last August.

Tan served as the CEO of Cadence Design Systems, a major electronic systems ...