New Intel CEO pledges to 'promise less, deliver more'

Lip-Bu Tan made his first public speech two weeks after taking office as Intel CEO at the Intel Vision conference on March 31. There, he shared bold plans to revive the former semiconductor giant.

Accordingly, the company will separate non-core assets and create new products, including custom chips, to better meet customer needs.

New Intel CEO Lip-Bu Tan affirmed that he will build a strong team to correct past mistakes. Photo: Intel

Mr. Tan pointed out three things that Intel needs to do: attract technical talent, improve business results and adjust production processes. He acknowledged that the road ahead is full of challenges and setbacks in innovation.

This is a clear sign of the failure of Intel's previous strategies, especially when the company cannot produce AI processors powerful enough to compete with rival Nvidia, which has seen its revenue and market value skyrocket thanks to the explosion of the artificial intelligence industry.

Failure to revamp Intel's product portfolio and turn it into a reputable chip foundry were among the reasons former CEO Pat Gelsinger was fired.

Intel needs to listen to its customers about factories and let them participate in the design and manufacturing process instead of forcing them to do things its way, Tan said. He stressed that there is no quick fix to Intel’s problems, but he is committed to doing so.

Intel will push to apply AI in manufacturing processes, including humanoid robots.

Intel shares have rebounded slightly since Mr. Tan was appointed CEO on March 18. However, the overall state of the technology market continues to be gloomy.

Before becoming CEO of Intel, Mr. Tan was CEO of Cadence Design Systems from 2008 to 2021 and has extensive experience in the semiconductor industry, although he is not a semiconductor engineer by profession. He also sat on Intel's board of directors before stepping down in August 2024.

When asked why he took on the job at the end of his career, he said he could not sit idly by while seeing Intel in trouble, knowing he could help the company turn around.

“My motto is simple: under-promise, over-deliver… We will build strong teams to correct past mistakes and start earning your trust again,” Mr. Tan emphasized to customers and partners at Intel Vision. “We may not be perfect at the beginning, but in the end, you can trust me to make everything perfect.”

(According to WSJ, Bloomberg)

Source: https://vietnamnet.vn/tan-ceo-intel-hua-it-lam-nhieu-2386487.html