Intel has reportedly begun the search for a new CEO following the recent departure of Pat Gelsinger and former board member Lip-Bu Tan has emerged as a potential candidate. According to a report by news agency Reuters, Tan left after disagreements between Gelsinger and other board members.
Citing sources familiar with the matter, the report said that Intel’s board has reached out to Tan to gauge his interest in the position.
Who is Lip-Bu Tan – potential Intel CEO
Tan, a seasoned industry veteran, previously served on Intel’s board for two years as part of an effort to revitalise the struggling chipmaker. He joined the board in 2022 and was later tasked with overseeing manufacturing operations.
However, he left in August after disagreements with Gelsinger over various aspects of Intel’s turnaround strategy, including workforce size, contract manufacturing, and company culture, a previous report by the news agency said.
One of the reasons why Tan is a strong contender to succeed Gelsinger is his experience and industry knowledge. He previously served as CEO of Cadence Design Systems, where he successfully led a turnaround effort for the design software company.
Final decision in the coming weeks
Intel’s board is reportedly evaluating other candidates as well, shortlisted some and the CEO selection process remains in its early stages. The board aims to make a final decision in the coming weeks.
Gelsinger’s departure came after less than four years at the helm. The board felt that the pace of his turnaround plan, which involved significant investments and ambitious goals, was not yielding results quickly enough. Gelsinger faced challenges in meeting manufacturing targets and securing key contracts, particularly in the AI sector.
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