Intel Names Lip-Bu Tan as New CEO, Shares Soar 12%

After the unexpected Resignations Patrick Gelsinger in 2024 Intel announced the appointment of a new CEO. He became Lip-Bu Tan, who previously served on the company's board of directors. Lip-Bu is a semiconductor industry veteran known for his work in Cadence, a provider of chip design software.

Lip-Bu will take office on March 18, and the current co-CEOs Intel David Zinsner and Michelle Johnston Holthaus will return to their previous positions. His appointment comes at a critical time for the company, which has lost its leadership in chipmaking TSMC and gave in NVIDIA in the AI ​​race.

Under Gelsinger, Intel has bet on 18A and creating world class semiconductor manufacturing, but the company's shares plummeted 59,6% by the end of 2024. In 2025, they partially recovered (+2% since the beginning of the year), and after the announcement of the new CEO, they soared by 12% in post-market trading.