Intel part ways with board member two years after appointment

Current Intel CEO Patrick Gelsinger was appointed to this position in mid-February 2021, and subsequent changes within the company were carried out under the slogan of returning to its roots and restoring its leadership in the field of technology. Apparently, not all members of the corporation’s board of directors have realized by now that they are on the same path with Intel.

Image Source: Intel

In any case, as Bloomberg notes, this week it became known that semiconductor industry veteran and Malaysian-born entrepreneur Lip-Bu Tan intends to leave the Intel board of directors. He joined this board only in September 2022, and the corresponding appointment, as is generally believed, was supposed to contribute to the speedy restoration of the market position of the processor giant.

Lip-Bu Tan notified Intel’s board of directors that he will leave on August 19 to focus on other areas of activity because he no longer has enough time for all the initiatives in which he is involved. Lip-Bu Tan previously headed Cadence Design Systems, and he still runs the investment firm he founded in 1987, Walden International, as chairman of the board, and is also a managing partner at Celesta Capital. On the Intel board of directors, Lip-Bu Tan served on the Mergers and Acquisitions Committee. He himself commented on his resignation succinctly: “This is a personal decision based on the need to redistribute priorities, I continue to support the company and its important work.”