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Lip-Bu Tan, former CEO of semiconductor software company Cadence Design Systems, joined Intel as CEO, and the news triggered widespread optimism in the market. Bank of America said that Lip-Bu Chen has a solid track record of success and Cadence has worked with Intel before, and they believe that under his leadership, Intel has a greater chance of restructuring and turning around. Intel's board of directors officially appointed 65-year-old Lip-Bu Chen as the company's new CEO, which took effect in late March. The latest documents from Waterfall Light show that Chen Liwu's basic annual salary is US$1 million. According to Reuters, with the appointment of Lip-Wu Chen as CEO of Intel Corporation officially taking effect, Chen plans to completely reform Intel's wafer manufacturing business and artificial intelligence (AI) strategy to fully revitalize the troubled technology giant. #Intel #LipBuTan #Reform #NewCEO #ChenLipWu #ManufacturingBusiness #AIStrategy #Gelsinger