Intel appoints lip-bo tan as Chief Executive Officer
Courtesy: Intel
Intel The new CEO and Wall Street, named Lip-Bow Tan of the struggling chipmaker, covered a distance of more than 13% after the turning effort.
Tan first served as CEO of Chip software manufacturer and Intel supplier Rhythm -design systemsAnd after departing last year, the board will be re -added. He replaces the interim cum-CEOS David Zinsner and MJ Hulthaus, who took the company’s roser after former CEO Pat Gelsinger exiting in December.
This news once brings an end of a time for a time for the reputed American semiconductor company, which sheds the billions in the market value as it largely excludes the artificial intelligence boom that has lifted the broad industry. Intel’s board forced Gelsinger late last year as his ability to move around the confidence company decreased.
Wall Street appeared to support Intel’s decision, in which Dutash Bank analyst Ross Seemor called the appointment “desirable result”. He said that the experience of the semiconductor industry of Tan and the position of the former board also inspires him to “meet” demands of role.
UBS analyst Timothy Arkuri also focused on TAN’s relations with China and Taiwan and said as another possible positive for Intel “shareholder value making history”.
Tan “The company is likely to bring a customer service mentality that is rapidly important for their goals, but which is lacking,” Bernstein’s Stacey Rasgon wrote. “We like him; he was at the top of our list of candidates from a desirable point of view, and we are really happy for the company he has worked.”
Intel Stock has increased by about 3% this year in 2024 after an excuse of about two-thirds of its market value. In August, the stock fell to its lowest level in more than a decade and faced its worst decline in 50 years after cutting 15% of its workforce and releasing disappointing results.
The company’s underperformance and struggling business have also made it a possible acquisition target, which confirmed the CNBC in September. Qualcomm The company was approached about an acquisition. Last month, The Wall Street Journal reported that Broadcom and Taiwan semiconductor were weighing independent deals to break the manufacturing Intel.
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