Intel's new CEO pledges to 'promise less, deliver more'.

Lip-Bu Tan delivered his first public speech two weeks after assuming the position of Intel CEO at the Intel Vision conference on March 31st. There, he shared ambitious plans to revive the once-giant semiconductor company.

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

Intel's new CEO, Lip-Bu Tan, affirmed his commitment to building a strong team to rectify past mistakes. (Photo: Intel)

Mr. Tan pointed out three things Intel needs to do: attract technical talent, improve business results, and streamline manufacturing processes. He acknowledged that the road ahead is challenging and there may be setbacks in innovation.

This is a clear sign of the failure of Intel's previous strategies, especially as the company has been unable to produce AI processors powerful enough to compete with rival Nvidia, which has seen its revenue and market value skyrocket thanks to the boom in artificial intelligence.

The failure to revamp the product portfolio and transform Intel into a reputable chip foundry was the reason for former CEO Pat Gelsinger's dismissal.

According to Tan, Intel needs to listen to customer feedback regarding its factories and allow them to participate in the design and manufacturing process instead of forcing them to follow its methods. He emphasized that there can be no quick solutions to Intel's problems, but he pledged to find a way.

Intel will accelerate the application of AI in manufacturing processes, including the use of humanoid robots.

Since Mr. Tan was appointed CEO on March 18th, Intel's stock has seen a slight recovery. However, the overall state of the technology market remains unfavorable.

Prior to becoming CEO of Intel, Tan was CEO of Cadence Design Systems from 2008 to 2021 and had extensive experience in the semiconductor industry, although he was not a formal semiconductor engineer. He also served on Intel's board of directors before stepping down in August 2024.

When asked why he took on the role at the end of his career, he said he couldn't stand idly by while Intel struggled, knowing he could help the company recover.

“My motto is simple: promise less, deliver more… We will build strong teams to correct past mistakes and start regaining your trust,” Mr. Tan emphasized to customers and partners at Intel Vision. “We may not be perfect from the start, but ultimately, you can trust me, I will make everything perfect.”

(According to WSJ and Bloomberg)

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