Intel's newly appointed CEO, Lip-Bu Tan, is aiming to bring about a revival at the company. Tan emphasized the importance of receiving direct and honest feedback from customers to tackle recent shortcomings in the organization. Taking over from former CEO Pat Gelsinger who left in December, Tan outlined plans to divest from non-core businesses and potentially explore opportunities in the robotics sector.

During his inaugural public appearance as CEO at an Intel event in Las Vegas, Tan acknowledged the company's failure to meet expectations and adapt quickly to customers' needs. He urged customers to provide ruthless feedback, stating a commitment to enhance Intel's performance. Tan shared his background and career experience, stressing the significance of customer feedback in his previous leadership roles.

Having led Cadence, an electronics and system design company, for over 16 years, Tan joined Intel's board in 2022, but resigned in August due to other commitments. With a strong background in venture capital and serving on the boards of prominent companies like SoftBank Group and Hewlett Packard Enterprise, Tan is determined to revitalize Intel's operations.

Tan's strategy includes spinning off non-essential businesses to enhance the company's focus and efficiency. He also hinted at potential ventures into the robotics field. Expressing his dedication to revitalizing Intel, Tan noted the challenges the company had faced and expressed his desire to lead the turnaround efforts.

Intel, a leading chipmaker in the past, has faced stiff competition from rivals like Nvidia and Samsung, leading to a significant drop in its share price. Tan's predecessor, Pat Gelsinger, had initiated layoffs and other measures to address the company's struggles. Intel aims to optimize its operations by prioritizing efficiency and reducing waste, as outlined by its global operations officer in a strategic shift towards maximizing capital utilization.