Key Takeaways Intel named Lip-Bu Tan its new CEO, effective March 18. Tan is the former CEO of Cadence Design Systems, a semiconductor software company that has partnered with Intel.The chipmaker had been searching for a permanent CEO since Pat Gelsinger's retirement late last year.

In his letter to Intel employees, new chief executive officer Lip-Bu Tan, who starts his new job next Tuesday, tells them that he is “never deterred by

NTU alumnus Tan Lip-Bu has been appointed the new CEO of Intel. A highly accomplished technology leader, he has outlined his determination to drive the turnaround of one of the world’s largest chipmakers,

Intel said on Wednesday that Lip-Bu Tan is taking over as CEO, three months after Pat Gelsinger resigned from the post.

Intel appoints Lip-Bu Tan as its new CEO on Wednesday. TakeAway Points: Intel announced Lip-Bu Tan as its new CEO on Wednesday. Prior to this, Tan served as the CEO of Cadence Design Systems, a software company that supplies all of the major chip designers,

The former CEO of Cadence Design Systems, steps in as the semiconductor manufacturer has lost market share.

Intl said former Cadence Design Systems chief executive Lip-Bu Tan will be the company's next chief executive. Former co-CEOs Michelle Johnston Holthaus and David Zinsner will remain at the company.

Struggling chipmaker Intel on Wednesday named former board member Lip-Bu Tan as its CEO effective March 18, more than three months after the it ousted company veteran Pat Gelsinger.

Intel on Wednesday named former board member and chip industry veteran Lip-Bu Tan as its CEO and signaled the struggling but storied chipmaker was unlikely to split up its chip-design and manufacturing operations.