Intel Corp (NASDAQ:INTC, ETR:INL) has named industry veteran and former board member Lip-Bu Tan as its new CEO, effective March 18, in a move welcomed by analysts as a stabilising force for the struggling chip giant. Reflecting this, the stock spiked 10% in after-hours trading.
Lip-Bu Tan may be one of the most powerful technology executives you've never heard of. As he steps into one of the highest-profile jobs on the planet, CEO of troubled, storied chipmaker Intel, his performance will be on full display.
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.
It was another busy day on Wall Street. On the latest Asking for a Trend, anchor Josh Lipton gets an instant reaction to the news that Intel has named Lip-Bu Tan as its new CEO.
The semiconductor pioneer has appointed Lip-Bu Tan, a well-known tech investor and executive, as its new leader.
CNBC's Kristina Partsinevelos joins 'Fast Money' to talk Lip-Bu Tan taking over as Intel CEO.
Intel stock rallied late Wednesday after the chip giant named Lip-Bu Tan as its new CEO. The post Intel Stock Rallies As Chip Giant Names New CEO appeared first on Investor's Business Daily.
Intel (INTC) named Lip-Bu Tan its new CEO, sending the chipmaker's stock higher in after-hours trading Wednesday.
The former CEO of Cadence Design Systems, steps in as the semiconductor manufacturer has lost market share.
The move comes after Intel ousted company veteran Pat Gelsinger more than two months ago.
CNBC's Kristina Partsinevelos joins 'Closing Bell Overtime' to talk breaking news on Intel.
With a permanent CEO, Intel now has some stability. But turning around the design and manufacturing businesses won't be easy.