After a little over 3 months, Intel has a brand-new CEO to change ousted previous CEO Pat Gelsinger. Intel’s board revealed that Lip-Bu Tan will start as Intel CEO on March 18, taking over from interim co-CEOs David Zinsner and Michelle Johnston Holthaus.

Gelsinger was booted from the CEO position by Intel’s board on December 2 after numerous quarters of losses, rounds of layoffs, and canceled or spun-off side jobs. Gelsinger looked for to turn Intel into a foundry business that likewise produced chips for fabless third-party chip style business, putting it into competitors with Taiwan Semiconductor Manufacturing Company(TSMC), Samsung, and others, a strategy that Intel stated it was still dedicated to when it let Gelsinger go.

Intel stated that Zinsner would remain on as executive vice president and CFO, and Johnston Holthaus would stay CEO of the Intel Products Group, which is generally accountable for Intel’s customer items. These were the positions both executives held before acting as interim co-CEOs.

Tan was formerly a member of Intel’s board from 2022 to 2024 and has actually been a board member for a number of other innovation and chip production business, consisting of Hewlett Packard Enterprise, Semiconductor Manufacturing International Corporation (SMIC), and Cadence Design Systems.