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Kuala Lumpur: Intel Corporation has appointed Malaysian-born Tan Lip Bu, an accomplished technology leader with deep semiconductor industry experience, as chief executive officer (CEO) effective March 18.

In a statement on Thursday, Intel said Tan succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He will also rejoin the Intel board of directors after stepping down in August 2024.

“Tan is a longtime technology investor and widely respected executive with more than 20 years of semiconductor and software experience (and has) deep relationships across Intel’s ecosystem,” the statement said.

He served as Cadence Design Systems CEO from 2009 to 2021. He led a reinvention of the company and drove a cultural transformation centred on customer-centric innovation.

He was on the Cadence board for 19 years, from his appointment in 2004 through his service as executive chairman from 2021 to 2023 following his tenure as CEO, the statement said.

Independent chair of the Intel board of directors Frank D. Yeary said Tan is an exceptional leader whose technology industry expertise, deep relationships across the product and foundry ecosystems, and proven track record of creating shareholder value is exactly what Intel needs in its next CEO.

The appointment of semiconductor veteran and Malaysian-born Tan Lip Bu as Intel Corporation’s chief executive officer (CEO) is a positive development for Asia’s semiconductor industry.

Malaysia Semiconductor Industry Association (MSIA) president Datuk Wong Siew Hai said Tan, an experienced leader in the semiconductor sector, is well-versed in the market dynamics and challenges in the region.

“He understands Asia very well, such as China and Malaysia. He has also invested in several companies in Malaysia,” he said when contacted by Bernama.

Earlier, Tan said in a statement that Intel needs to build on its strengths, take calculated risks to catch up in areas where it lags, and accelerate progress in slower-moving segments.

Commenting on Tan’s statement, Wong expressed optimism that Tan would inject tremendous energy into shaking up Intel to become more competitive, with hopes that his decisions would benefit Malaysia.

“For the past 50 years, Intel has played a crucial role in Malaysia’s semiconductor industry, significantly contributing to its growth and success. Hopefully, he will continue to recognise and appreciate Intel Malaysia’s contributions and elevate its role to the next level,” he added.

As Malaysia strives to become a global hub for the semiconductor industry through its National Semiconductor Strategy and advances up the value chain into design and development, Wong believes the government could seek Tan’s advice on strengthening Malaysia’s design capabilities.

“He has the right background, and I think he can offer valuable advice to Malaysia by helping to enhance the country’s design capabilities, enabling it to become a key player. “By expanding and strengthening Intel’s design centre in Malaysia, the country could play a more significant role in integrated circuit design,” he said.

Earlier, Intel Corporation announced the appointment of Tan as its CEO, effective March 18.

Intel stated that Tan succeeds interim co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He will also rejoin the Intel board of directors after stepping down in August 2024.