Intel’s incoming Malaysian-born CEO is the latest Fortune 500 semiconductor exec to hail from Asia.
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00:00Intel's new CEO Lipu Tan is a semiconductor industry veteran, and the announcement of
00:05his new role caused shares to jump by more than 10%.
00:09But who is Tan and why are investors so excited about him becoming CEO?
00:13Tan was born in Muar, Malaysia and studied physics in Nanyang University and later got
00:18a master's degree in nuclear engineering from the Massachusetts Institute of Technology
00:23in 1981.
00:25His career includes serving as CEO of Cadence Design Systems, a chip design software company,
00:29before becoming a founding managing partner at Celesta Capital.
00:34And he sat on Intel's board from 2022 to 2024.
00:38In his time at Cadence, Tan more than doubled revenue, expanded operating margins, and delivered
00:44a stock price appreciation of more than 3,200%, according to a press release from Intel.
00:50Those results may give investors hope that Tan will accelerate turnaround as Intel attempts
00:55to regain investor confidence in the semiconductor realm.