Intel names new CEO to lead turnaround effort
Intel has named longtime tech investor and semiconductor industry executive Lip-Bu Tan as its new chief executive. The appointment comes as the struggling chipmaker attempts to recover from several difficult years and falling behind its rivals. Tan's leadership and expertise in the technology industry, along with his track record of creating shareholder value, make him the ideal candidate to lead Intel's turnaround. The announcement of Tan's appointment resulted in a significant jump in Intel's stock price. This event signifies a major change in leadership and strategy for Intel.