Intel CEO Lip-Bu Tan outlines turnaround plans amid declining market share

Intel's new CEO Lip-Bu Tan has acknowledged significant challenges facing the company, including a 50% drop in shares and lagging behind competitors in the AI sector. During his first keynote at Intel Vision 2025, he emphasized a customer-centric, engineering-led strategy to rebuild trust and restore Intel's leadership in technology and manufacturing. Tan admitted that Intel has fallen behind on innovation and has been slow to adapt, pledging to create solutions that address customer needs. He aims to foster a culture of experimentation among engineers and prioritize recruiting top talent to revitalize the company. Despite outlining a vision for turning things around, analysts noted the lack of specific details on his immediate strategy. Tan's approach is marked by a candid acknowledgment of past mistakes, contrasting with the overly optimistic tone of his predecessor.