Intel Corp. Chief Executive Lip-Bu Tan just had his first big chance to wow the investment community, but his speech at Intel's partner conference seemed to emphasize that there are no quick fixes for the company's challenges.
New Intel (INTC) CEO Lip-Bu Tan shared cautious optimism for the company's outlook.
Intel Corp INTC just got a new captain, but it's going to take more than a fresh face to turn this ship around. CEO Lip-Bu Tan has stepped in with bold plans to spin off non-core units, add more engineers, and – perhaps most notably – ask customers for unfiltered feedback.
Lip-Bu Tan isn't yet signaling a major departure from Intel's past strategy, but expectations for change are high.
Intel's new CEO, Lip-Bu Tan, said he wants brutal customer feedback to address recent shortcomings. Tan's appointment follows Pat Gelsinger's departure in December.
Intel's new chief executive Lip-Bu Tan told investors during the company's “Intel Vision” conference that the chip giant has been “too slow to adapt.” Photo: Intel Corporation; David Paul Morris/Bloomberg News
In his first public appearance as Intel Corp.'s new chief executive, Lip-Bu Tan on Monday asked the chip giant's customers to continue to give him their criticism and honesty, as he moves forward with his plans to revive the company.
In his first remarks as Intel's new CEO, Lip-Bu Tan on Monday outlined a leaner version of the iconic American chipmaker in which he would work directly with engineers to develop new products based on feedback from the company's customers.
Tech stocks are selling off today amid President Donald Trump's latest tariff remarks.
Three members of Intel's board of directors won't stand for re-election in May, the company said in a Thursday filing. The shakeup comes after Intel named Lip-Bu Tan as its new CEO earlier this month.
In October 2020, Intel agreed to sell its NAND memory-fabrication facility operations and business in Dalian, China, to Seoul-based memory-chip maker SK Hynix. The deal was set to be conducted through two closings.
Taiwan Semiconductor Manufacturing stock has suffered this year amid worries about potential tariffs on semiconductors and its hefty investment in the U.S.