The Latest Breaking News from LipBu Tan

Intel just appointed industry veteran Lip-Bu Tan as its new CEO, giving him the challenge of turning around the struggling chipmaker. Tan, a former Intel board member and longtime semiconductor leader, replaces Pat Gelsinger after his sudden departure.

Intel stock rallies by over 11% on news of a newly appointed CEO, but the optimism goes well beyond this announcement, according to fundamentals.

Lip-Bu Tan has a degree in physics, a masters in nuclear engineering, and won the semiconductor industry's top award, the Robert N. Noyce award.

Industry veteran Lip-Bu Tan becomes Intel's permanent CEO, rejoins the company's board-of-directors.

Intel begins to shortlist potential candidates to the CEO position.

Intel Corp (NASDAQ: INTC) narrows search for new CEO, ex-board member Lip-Bu Tan a potential candidate. Struggling chipmaker's stock down 52% YTD.

Intel CEO Pat Gelsinger is expected to meet with the board of executives this month to share potential plans on what to cut from Intel to turn around the company. Intel's Foundry wing will not be on the chopping block, but Intel's in-progress Magdeburg fab will likely be canceled.

Pat Gelsinger will pitch the plan to the board of directors in the wake of last month's $1.6 billion quarterly loss, a source told Reuters.

High-tech businessman Lip-Bu Tan leaves Intel board of directors amid incoming massive layoffs.