Intel has hired former board member lip-bo tan as a new CEO in an attempt to return the latest return to the chipmekar.

Lip-Bo Tan, Chief Executive Officer of Intel, Picture above (File) | Photo Credit: Special Arrangement

The struggling chipmaker Intel has hired former board member and semiconductor industry veteran lip-bo tan once as the latest in the CEO’s succession to try to roam around the major company that helped define the Silicon Valley.

Three months after Tan, 65, Intel’s previous CEO, Pat Gailinger, the next Tuesday will take a hard work, suddenly retired amidst a deep recession, triggering large -scale sorting and questioned about chipmekar’s ability as an independent company.

This will run a semiconductor company for Tan for the first time, nor his first relationship with Intel. He spent more than a decade as the CEO of the rhythm design system, which creates software that helps the design processor, and joined Intel’s Board of Directors in 2022 before stepping into the last August. In addition to becoming a Tan CEO, it will re -connect the board of Intel.

Intel’s interim executive chairman Frank Annie said, “Lip-bo is an extraordinary leader whose technology industry expertise, deep relationship in product and foundry ecosystems, and a proven track record of making shareholder value is actually needed in its next CEO.”

Intel was led by interim co-CEOS, David Zinsner and Mitchell Johnson Holthas, as Gailinger went away from a job that he did in February 2021.

Although Gelsinger arrived at Intel amid high expectations, his tenure was a great lethargy as Intel’s stock was priced at 60%, with the shareholder funds eliminated $ 160 billion. Last year leading to his departure, Intel placed about 15% of his workforce out of his employees – and suspended his dividend to save money for an annual loss of $ 19 billion.

Recently, Intel delayed the opening of two new chip factories in Ohio to ensure that the projects were “financially responsible”. The project is to be attracted at $ 7.8 billion in the funding for Intel at the Chips Promotion Program created during the administration of the President Joe Biden.

It was the latest sign of crisis for Intel, a Santa Clara, California, which at that time helped launch silicon valley by developing microprocessors that enable individual computer revolution under the leadership of their CEOs, which Andy Grow, who helped the Silicon Valley.

But as its leadership changed, Intel recalled the technical change in mobile computing triggered by Apple’s 2007 iPhone, and it lagged behind more agile chipmakes. Intel’s troubles have been increased since the arrival of Artificial Intelligence-a rapidly growing area where once the chips made by the six-six rival Nvidia have become the hottest object of the tech.

NVIDA now contains a market price of $ 2.8 trillion compared to Intel’s $ 90 billion. The price of Intel’s stock in extended trade on Wednesday increased by more than 10% after the announcement of Tan’s hiring, showing that investors believe it will revive the fate of the company.

While Tan was the CEO of the Condenses Design from January 2009 to May 2021, the company’s share price increased by 44 times.

As a result of Tan’s previous achievements, he was named as the winner of the 2022 Robert Nois Award of the Semiconductor Industry Association-an honor in the name of one of the co-founders of Intel.