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As Intel welcomes a new CEO, a look at where the company stands

Semiconductor giant Intel hired semiconductor veteran Lip-Bu Tan to be its new CEO. This news comes three months after Pat Gelsinger retired and stepped down from the company’s board, with Intel CFO David Zinsner and Executive Vice President of Client Relations Michelle Johnston Holthaus stepping in as co-CEOs. Tan, who was most recently the CEO […] © 2024 TechCrunch. All rights reserved. For personal use only.



Lip-Bu Tan replaces Pat Gelsinger as Intel's CEO after Gelsinger's retirement and a period of co-CEOs. Gelsinger's tenure involved a modernization plan including investments in new chip manufacturing facilities and a three-pronged approach to chip manufacturing. However, Intel faced challenges, including a declining stock price, layoffs, and difficulties capitalizing on the AI boom, leading to delays in factory openings and discontinued AI chip projects.

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