CHANDLER, AZ — Lip-Bu Tan, who resigned from Intel's board of directors last summer, is back with the troubled chipmaker — as its newly appointed chief executive officer.
Intel (Nasdaq: INTC) announced his hiring in an announcement Wednesday after markets closed. The move came nearly three and a half months after former CEO Pat Gelsinger exited as Intel struggled to gain a foothold in the AI market, continued to shed share in its traditional markets, and failed to convince investors that his strategic vision would succeed.
Intel is one of the Valley's largest employers, with more than 12,000 people based out of the company's Ocotillo campus in Chandler. That campus is also currently undergoing a $32 billion expansion that is expected to deliver this year and create 3,000 jobs.
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