Wall Street welcomed the move by sending Intel’s shares up nearly 15 per cent this week. But the decision came after a deliberative process, with chair Frank Yeary saying the board had met with “many strong leaders” before settling on the Malaysia-born, Mandarin-speaking, MIT-educated executive — whose interest in the job was an open secret.

Shares of Intel closed 14% higher on Thursday, as Wall Street cheered its decision to name former board member Lip-Bu Tan as CEO, who left in August over differences about the chipmaker's direction, after several years of market underperformance.

Intel named Lip-Bu Tan as its new chief executive, selecting a former board member and longtime industry executive to help turn itself around. Shares stood 15% higher in midday trading. 🔎 Dig deeper

Long-time Intel executive Pat Gelsinger resigned in December of 2024. Intel was once the world’s largest producer of computer chips with its technology used in almost every PC on the market. However,

The new CEO at chip stock Intel (INTC) is starting to look like a “be careful what you wish for” proposition, as Lip-Bu Tan is already calling