Struggling U.S. chipmaker Intel on Wednesday named former board member Lip-Bu Tan as its CEO effective March 18.

Intel appointed Lip-Bu Tan as its CEO following the retirement of former CEO Pat Gelsinger in late 2024. In a press release, Intel said Tan will start as its chief executive officer effective March 18,

The 65-year-old seasoned professional from the semiconductor sector, who has held a board position at Intel in the past, is responsible for enhancing efforts to bring the company back to the leading position in an industry it ruled for many years.