"Lip-Poo Tan" is who? Intel's new CEO, who will work to turn the company around.
Intel has finally selected a new general manager, or chief executive, following months of uncertainty. Lip-Bo Tan, the new CEO of Intel, is a senior executive with more than 20 years of experience in the chip industry. He was born in Malaysia and is of Chinese heritage.
Intel has selected a CEO with extensive industry knowledge. From 2009 until 2021, Lep-Bo Tan served as CEO of the chip design firm Cadence.
Leap-Pu Tan proved he could manage a chip design and manufacturing company by doubling profits and boosting the stock price by 3,200% during his 12 years as CEO of Candence. With Intel, though, things would be very different.
Despite being an American citizen, the new CEO is 65 years old and was born in Muar, Malaysia.
He received his physics degree from Nanyang University after being reared and educated in Singapore. In addition, he obtained an MBA from the University of San Francisco and a master's degree in nuclear engineering from the esteemed Massachusetts Institute of Technology (MIT) in the United States.
Lip Bu Tan is a member of the boards of Credo Technology Group, Schneider Electric, and Walden International.
Tan was undoubtedly selected by Intel as its new CEO due to his substantial industry connections and more than 20 years of experience in the chip and semiconductor industry.
In his first speech to the staff, Lip Pu Tan stated, "I am honored to join Intel as CEO." "I see tremendous potential to reshape our business to better serve our customers and create value for our shareholders, and I have a great deal of respect and admiration for this innovative company."
The policy that Intel's new CEO will follow is unknown, as is whether he will sell a portion of the business as has been suggested. But judging from his early remarks, it seems he plans to keep designing and producing chips:
"Together, we will put in a lot of effort to make Intel a world-class manufacturer, restore its position as a world-class product company, and provide our customers with unparalleled satisfaction. As we rebuild Intel for the future, that is what we must do this time."
We will see if Lip-Bo Tan, Intel's new CEO, can stop the company from going to the highest bidder or dismantling. That would be a terrible end for the renowned manufacturer of computer processors.