Struggling Intel names Malaysian-born industry veteran Lip-Bu Tan as CEO

Tan's predecessor, Pat Gelsinger, was forced out as Intel chief in December after the board lost confidence in his plans to turn the company around. — Reuters

SAN FRANCISCO: Intel on Wednesday announced tech industry veteran Lip-Bu Tan as its new chief executive, boosting shares of the US computer chipmaker struggling to catch up in the AI race.

Tan told the Intel team his focus would be on engineering, saying it "won't be easy" to overcome challenges faced by the company.