SAN FRANCISCO (Reuters) - In his inaugural speech as Intel's new CEO, Lip-Bu Tan outlined a streamlined strategy for the renowned American chipmaker. He emphasized direct collaboration with engineers to create new products based on feedback from customers. Tan recently assumed leadership at Intel, a company that once dominated the market with over 90% share in personal computers and data center servers but has since faced stiff competition from companies like Nvidia.

Addressing attendees at Intel's "Vision" event in Las Vegas, where product discussions with customers were set to take place, Tan expressed his dedication to meeting client expectations. He encouraged customers to provide candid feedback, stressing the value of such input.

Reports indicate that Tan intends to eliminate a cumbersome layer of middle management that he believes is hindering progress at Intel. Tan reiterated his commitment to empowering the company's engineers, highlighting the need for a more conducive environment for new ideas to flourish.

Tan pledged to foster innovation by granting engineers more autonomy, enabling them to unleash their creativity. He shared his enthusiasm for collaborating closely with engineers who are brimming with groundbreaking ideas and a desire to make a significant impact.

Recruitment and retention of top engineering talent emerged as a key focus area for Tan. Acknowledging past talent losses, he affirmed his priority to attract the industry's finest professionals to either return to or join Intel.

Stephen Nellis and Max Cherney contributed to this report from San Francisco.