Intel has appointed Lip-Bu Tan as its new CEO, replacing Pat Gelsinger who was ousted after several quarters of losses. Tan will begin his role on March 18, succeeding interim co-CEOs David Zinsner and Michelle Johnston Holthaus. Gelsinger’s strategy aimed to transform Intel into a foundry company competing with TSMC and Samsung, a plan Intel remains committed to. Zinsner will continue as executive vice president and CFO, and Johnston Holthaus will remain CEO of the Intel Products Group. Tan, previously a member of Intel’s board from 2022 to 2024, has extensive experience in technology and chip manufacturing. Intel reported a loss of $18.76 billion in 2024, its first annual loss since 1986. Competitors like Qualcomm and TSMC have reportedly considered acquiring stakes in Intel or its foundry business. The company’s future hinges on its upcoming 18A manufacturing process, overseen by Tan, which is crucial for attracting third-party foundry customers and bringing some chip manufacturing back in-house. Intel’s turnaround is partly funded by the US government’s CHIPS Act, though recent comments by President Donald Trump raised concerns about future funding. — news from Ars Technica
