The Intel board of directors didn't have to look far for the company's new CEO. The lucky winner, Lip-Bu Tan, actually comes from its ranks; he was a director of the semiconductor giant until last year. Lip-Bu Tan was at the top of the list of potential candidates anyway.
Very difficult situation for Intel's new boss
The former head of Cadence Design Systems is taking the place of Pat Gelsinger, who announced his departure in early December, The CEO's role came as a surprise to everyone. David Zinsner and MJ Holthaus filled the vacant seat as interim co-CEOs, a period that didn't last long.
Lip-Bu Tan is Intel's fourth CEO in seven years: Brian Krzanich resigned in 2018 after revelations of an inappropriate relationship with a female employee. His successor, Bob Swan, lasted two years. Then came Pat Gelsinger in 2021, with a highly ambitious roadmap to transform Intel from the ground up. He wanted his semiconductor manufacturing plants to produce chips for other manufacturers, including rivals. A bit like the Taiwanese giant TSMC.
But this strategy involves building production sites, requiring heavy investment in both the United States and Europe. Gelsinger left before seeing his project come to fruition. Since then, rumors have announced that Intel could be sold in whole or in part. the cutting (Qualcomm was supposedly interested).
Lip-Bu Tan will have to redefine the group's strategy and extricate itself from a very difficult economic situation. Donald Trump is seeking to eliminate his predecessor's CHIPS Act, a massive subsidy program to build factories in the United States. And the exorbitant customs tariffs put in place by the new president are not helping see it more clearly.
Source: Intel
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