Intel Corp has started evaluating a handful of outsiders, including former board member Tan Lip-bu (陳立武), for the role of chief executive after the struggling US chipmaking icon ousted company veteran Pat Gelsinger, according to people familiar with the matter.
Tan, a well-respected semiconductor industry veteran who has long been seen as a contender for CEO at Intel, has been approached by Intel’s board in recent days to gauge his interest in taking up the job, the sources said.
Intel’s board is mostly evaluating outsider candidates for the role and has also approached Marvell Technology Group Ltd CEO Matt Murphy, two of the sources said.
Photo: REUTERS
The deliberations on the CEO succession are at an early stage, the sources said, cautioning that Intel has not yet zeroed in on any candidate to replace Gelsinger, who stepped down from his role on Monday after being given the choice to retire or be removed.
The board has formed a search committee for Gelsinger’s successor and is expected to make a final decision on his replacement in the coming months, the sources said.
The company on Monday named chief financial officer David Zinsner and senior executive Michelle Johnston Holthaus as interim co-CEOs.
Intel declined to comment. Representatives for Tan’s venture capital firm, Walden Catalyst Management LLC, did not respond to a request for comment.
The hunt for Intel’s next leader is one of the most closely watched CEO successions in the US and comes at a pivotal time for the ailing chipmaker, which is enduring one of the bleakest periods in its five-decade history.
Intel’s revenue shriveled to US$54 billion last year, down nearly one-third from the year Gelsinger took over as CEO in 2021. Analysts expect Intel to lose US$3.68 billion this year, its first annual net loss since 1986.
The company’s shares were down nearly 6 percent on Tuesday, off more than 60 percent from a peak hit in Gelsinger’s first months as CEO. The crash in Intel’s share price had sparked takeover interest from suitors such as Qualcomm Inc, Reuters has reported.
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