Intel has a new boss. The new chief executive officer is Lip-Bu Tan, a former Intel board of directors member and chip software maker Cadence Design Systems. He’s promising to “double down” on things that are working and “take calculated risks” where things aren’t working nearly as well.

Intel appointed Lip-Bu Tan as its CEO following the retirement of former CEO Pat Gelsinger in late 2024. In a press release, Intel said Tan will start as its chief executive officer effective March 18,

“Under my leadership, Intel will be an engineering-focused company,” Tan said in a statement. “We will push ourselves to develop the best products, listen intently to our customers, and hold ourselves accountable to the commitments we make so that we build trust.”