Bu Tan as its next chief executive officer, entrusting a former board member and semiconductor veteran with one of the toughest jobs in the chip industry. Tan, 65, will assume the role on March 18, the company said in a statement Wednesday.

Lip-Bu Tan may be one of the most powerful technology executives you've never heard of. As he steps into one of the highest-profile jobs on the planet, CEO of troubled, storied chipmaker Intel, his performance will be on full display.

Tan succeeds interim co-CEOs David Zinsner and Michelle Johnston Holthaus. He’ll also rejoin the Intel board of directors after stepping down from the board in August 2024, Intel said. Zinsner will remain Intel’s CFO, while Johnston Holthaus will remain CEO of the company’s Intel Products division.