Intel's new CEO: 5 key facts about Lip-Bu Tan and his mission to revive the chipmaker

Intel tapped former board member Lip-Bu Tan as its CEO on Wednesday, as the struggling American chipmaking icon attempts to emerge from one of its bleakest periods.

Tan, a respected semiconductor industry veteran who will take the mantle on March 18, had been seen as a CEO contender since Intel ousted company veteran Pat Gelsinger last year, according to Reuters.

Personal life

Born in 1959 in Muar, Johor, Malaysia, Tan was raised in Singapore before becoming a naturalized U.S. citizen. His father was the chief editor of the Malaysian Chinese-language daily Nanyang Siang Pau, while his mother was a teacher who also managed the women’s hostel at Nanyang University.

A gifted student, Tan skipped multiple secondary school years and graduated with a physics degree from NU at just 19. He later served as a trustee of Nanyang Technological University from 2006 to 2011.

Tan resides in Piedmont, California, with his wife, Ysa Loo, a former banker. They have two sons, Andrew and Elliott, both holding master’s degrees from Carnegie Mellon University’s College of Engineering, and three grandchildren.

Intel new CEO Tan Lip-Bu. Photo from Facebook

Academic and early career in the U.S.

Tan earned a master’s degree in nuclear engineering from the Massachusetts Institute of Technology in 1981. Despite receiving a full PhD scholarship, he opted to enter the workforce, joining U.S. engineering and consulting firm EDS Nuclear, according to The Straits Times.

He later pursued business studies and earned an MBA from the University of San Francisco, setting the stage for his transition into venture capital and corporate leadership.

A leading venture capitalist

In 1987, Tan founded Walden International, a San Francisco-based venture capital firm focused on semiconductors, alternative energy, and digital media. The firm’s investments grew from $20 million to $2 billion by 2001.

His portfolio includes investments in Amazon-acquired Annapurna Labs, Qualcomm-owned Nuvia, and Singapore’s Creative Technology. He remains engaged in startups that could become potential competitors or acquisition targets for Intel, including AI photonic startup Celestial AI, which is backed by Intel rival AMD.

For his contributions to the Asian tech ecosystem, Forbes dubbed him "the pioneer of Asian VC" in 2001.

Turning around Cadence Design Systems

Tan served as CEO of Cadence Design Systems from 2009 to 2021, overseeing a remarkable transformation that turned the struggling chip design software firm into a powerhouse now valued at $80 billion.

During his tenure, Cadence’s stock surged by 3,200%, and the company landed Apple as a major client as the iPhone maker shifted away from Intel’s chips toward its own designs, Channel News Asia reported.

Cadence’s software tools became essential for AI chip developers such as Broadcom, Google, and Amazon, supporting their in-house chip designs and manufacturing partnerships with Taiwan Semiconductor Manufacturing Company (TSMC).

Tan’s leadership in the semiconductor sector earned him the Global Semiconductor Alliance’s Dr. Morris Chang Exemplary Leadership Award in 2016 and the Semiconductor Industry Association’s Robert N. Noyce Award in 2022.

Challenges at Intel

Intel, once the undisputed leader in semiconductors, has struggled in recent years, losing ground to Asian competitors such as TSMC and Samsung. Tan joined Intel’s board in 2022 as part of efforts to restore the company’s position as a global leader.

A year later, Intel expanded his responsibilities to include manufacturing operations, but he stepped down in August 2024 due to disagreements over Intel’s workforce size, contract manufacturing approach, and bureaucratic culture.

Now returning as CEO, Tan has vowed not to split Intel’s design and manufacturing businesses.

"Intel plays an essential role in the technology ecosystem, both in the U.S. and around the world. And, together, I'm confident we can turn our business around," Tan said. "I believe with every fibre of my being that we have what it takes to win. In areas where we are behind the competition, we need to take calculated risks to disrupt and leapfrog."