Intel is actively seeking a new CEO following the resignation of Pat Gelsinger, who resigned on Monday. The board is considering several candidates, including former board member Lip-Bu Tan, who stepped down from the Intel board of directions several months ago after disagreements with Pat Gelsinger over how Intel should proceed forward, reports Reuters.
Gelsinger's oust reportedly came after Intel's board expressed frustration with the slow progress of his efforts to revive the company. Gelsinger was reportedly given the choice to retire or be dismissed. Intel has formed a search committee to oversee the process of selecting its next CEO. While deliberations are still in their early stages, the board is expected to make a final decision in the coming weeks.
There are several candidates under evaluation. Although no decision has been made, Lip-Bu Tan, a veteran investor in the technology industry and former CEO of Cadence Design Systems, has emerged as a potential candidate. Tan previously played a key role in transforming Cadence into a thriving business and has a lot of respect in the industry (he even has imec's Lifetime of Innovation Award), which makes him a strong contender.
There is a catch, though: while he has invested in various companies, he has never managed a company of Intel's size that develops its own range of products and produces chips. Also, it is unclear which goals the board has for Intel's next chief executive and how much time they have. Pat Gelsinger served as Intel CEO for 3.5 years, and transforming a company of Intel's size takes a long time. In fact, all the products that Intel has now were developed before Gelsinger's tenure.
Lip-Bu Tan served on Intel's board for nearly two years after joining it in September 2022 and later taking on expanded responsibilities related to manufacturing operations. During his time on Intel's board, Lip-Bu Tan reportedly clashed with Pat Gelsinger over various issues, including workforce size, the company's strategy for contract manufacturing, and its internal culture. These disagreements eventually led to Tan's departure in August 2023. Despite this, Intel's board has recently reached out to Tan to explore his interest in leading the company, Reuters reports.
Intel has reportedly declined to comment on the search for Pat Gelsinger's replacement, as the search is a process that is meant to remain confidential. Similarly, Lip-Bu Tan and representatives from his venture capital firm, Walden Catalyst, have not issued any statements.
