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Intel announced on Wednesday that the new executive director would take over the helm of the factors.
When the Lip-B Tan’s Available CEO occupies a position In Intel Next week will have a business revitalization job and make it more competitive.
“I am honored to have joined Intel as an executive director,” he said in a statement. “I have a huge respect and admiration for this iconic company and I see significant opportunities for our business to rewind in ways that serve our customers better and create value for our shareholders.”
(Reuters/Dado Ruvic/illustration)
Tan will take over the leading Intel, which David Zinsner and Michelle Johnston Holtaus nominated as temporary co -founders from the departure of Pat Gelsinger late last year, starting on Tuesday.
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“Lip-Bu is an exceptional leader whose expertise in the technological industry, deep relations through the product and ecosystem of Livari and a proven record of creating the value of shareholders exactly what Intel needs in his next executive director,” said Intel’s Frank Yeary.
Tan monitored the Technology Company of Cadence Design Systems as executive director for about 12 years, from 2009 to 2021, according to Intel.
The manufacturer of chips said that Cadence noted that his revenue was growing to twice as much, while Tan led the company.
He is also one of the Walden Catalyst Ventures’ founder. The risk capital company on its website said that “focus” “data, deep technology, AI, Cloud, Fintech and digital biology were.”
Tan currently has a headquarters on the panel at Credo Technology Group and Schneider Electric, Intel states.
CEO CEO CEO LIP-BU TAN (Businesswire/Intel)
Overall, he has more than two decades of “semiconductor and software experiences, as well as deep connections in the Intel ecosystem,” the company said.
Tan was supposed to become a member of the Intel Committee once again when he became Executive Director. He had previously been on the Committee from September 2022 to August 2024.
Intel fought due to rival rival like Nvidia and Taiwanese Semiconductor Manufacturing Co., Fox Business reported earlier.
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Tan said in a message posted on Intel’s website to join the company “because I believe with every fiber of my being that we have what it takes to win.”
“Intel plays a key role in the technological ecosystem, both in the US and around the world. And together I am convinced that we can turn our jobs,” he said.
Tan said that Intel “to be pushed to develop the best products, we listen carefully to our customers and we consider ourselves responsible for the obligations we set to build confidence” under his leadership.
“In the areas where we stand behind the competition, we have to take over the risks to disrupt and skip,” he said in the message. “And in areas where our progress was slower than expected, we must find new ways to pick up the pace.”
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In 2024, Intel generated $ 53.1 billion in revenue, which marked a 2% decline compared to one year. He also recorded a net loss of $ 18.8 billion for a 12 -month period.
| Dice | Security | Last | Change | Change % |
|---|---|---|---|---|
| Intc | Intel Corp. | 23.70 | +3.02 |
+14.60% |
The market capitalization company hovered about $ 103.15 billion from early Thursday afternoon.
Eric Revel contributed to this report.
