Intel Stock Soars On New CEO Pick, Lip-Bu Tan
View Original Article →Published: 3/12/2025
**Intel Stock Soars On New CEO Pick, Lip-Bu Tan**
By Anita Ramaswamy
2 hours ago
Source: The Information
Intel named former Cadence Design Systems chief Lip-Bu Tan as its new CEO, sending its stock up 12%. The appointment follows the departure of Pat Gelsinger as CEO in December as it struggled to compete in the market for artificial intelligence chips and its stock price tanked.
Tan had stepped down from Intel's board in August 2024, reportedly following clashes with Gelsinger over the latter's costly plan to reverse the company's fortunes. According to Reuters, Tan was one of multiple candidates Intel's board of directors approached in December about succeeding Gelsinger, as was Matt Murphy, CEO of rival chipmaker Marvell.