Long-time Intel executive Pat Gelsinger resigned in December of 2024. Intel was once the world’s largest producer of computer chips with its technology used in almost every PC on the market. However,

Intel has appointed Lip-Bu Tan as its CEO. The American chipmaker was without a chief executive for three months after Pat Gelsinger was ousted in

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,

Lip-Bu Tan, who resigned from Intel's board last summer, is back with the troubled chipmaker — as its newly appointed chief executive officer.

Intel stock jumped more than 16% after announcing that tech executive and former board member Lip-Bu Tan will be the company’s new CEO.

Intel ( INTC) named Lip-Bu Tan its new CEO, sending the chipmaker's stock higher in after-hours trading Wednesday. Tan, who is set to take the helm of Intel as of next Tuesday, is the former CEO of Cadence Design Systems ( CDNS ), a semiconductor software company that counts Intel among its partners.

Tan's predecessor, Pat Gelsinger, was forced out as Intel chief in December after the board lost confidence in his plans to turn the company around.

Tan will have his work cut out for him, as Intel has lost much of its market share after missing the AI boom. Shares of Intel Corporation (NASDAQ:INTC) surged more than 15% on Thursday as Wall Street welcomed the chipmaker’s appointment Wednesday of new CEO Lip-Bu Tan,