India, March 13 -- Intel Corp. announced that its board of directors has appointed Lip-Bu Tan, an accomplished technology leader with deep semiconductor industry experience, as Chief Executive Officer, effective March 18.

Lip Bu-Tan succeeds Interim Co-CEOs, David Zinsner and Michelle (MJ) Johnston Holthaus. Tan will also rejoin the Intel board of directors after stepping down from the board in August 2024.

Zinsner will remain Executive VP and Chief Financial Officer, and Johnston Holthaus will remain CEO of Intel Products. Frank D. Yeary, who took on the role of interim executive chair of the board during the search for a new CEO, will revert to being the independent chair of the board upon Tan becoming CEO.

"Lip-Bu is an exceptional ...