Why Wall Street is cheering on Intel's new CEO pick

Intel’s incoming Malaysian-born CEO is the latest Fortune 500 semiconductor exec to hail from Asia.

Transcript

00:00Intel's new CEO Lipu Tan is a semiconductor industry veteran, and the announcement of

00:05his new role caused shares to jump by more than 10%.

00:09But who is Tan and why are investors so excited about him becoming CEO?

00:13Tan was born in Muar, Malaysia and studied physics in Nanyang University and later got

00:18a master's degree in nuclear engineering from the Massachusetts Institute of Technology

00:23in 1981.

00:25His career includes serving as CEO of Cadence Design Systems, a chip design software company,

00:29before becoming a founding managing partner at Celesta Capital.

00:34And he sat on Intel's board from 2022 to 2024.

00:38In his time at Cadence, Tan more than doubled revenue, expanded operating margins, and delivered

00:44a stock price appreciation of more than 3,200%, according to a press release from Intel.

00:50Those results may give investors hope that Tan will accelerate turnaround as Intel attempts

00:55to regain investor confidence in the semiconductor realm.