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March 13, 2024

Anna Murray 

On March 12, Intel named Lip-Bu Tan as its new CEO. Tan's hire comes three months after Pat Gelsinger's resignation as CEO. 

Tan was the previous CEO of Cadence Design Systems. Cadence creates software used by all major semiconductor designers, including Intel. Lip-Bu seeks to accelerate Intel's comeback and capitalize on the significant growth opportunities that await. 

Tan succeeds Intel's interim co-CEOs, David Zinsner and MJ Holthaus. According to Intel, Zinsner will return to his previous role as CFO. Holthaus will remain in charge of Intel products.