Intel names Lip-Bu Tan its new CEO

Intel has a new leader at the helm, hoping to change course after a challenging period for the chipmaker. The company announced today that Lip-Bu Tan will serve as its new CEO effective March 18. He assumes the mantle from interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus, who took over after the abrupt retirement of Pat Gelsinger late last year.

"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," Tan said. "I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future."

As part of his appointment, Tan will also rejoin Intel's board of directors. He had previously been a board member, but quit after two years in ...