Intel jumps after appointing Lip-Bu Tan as CEO
ReutersMar 12, 2025 8:23 PM
Shares of chipmaker Intel INTC.O jump 10% to $22.76 in extended trade
INTC appoints Lip-Bu Tan as its CEO, effective March 18
Former CEO Pat Gelsinger was forced out last year after less than four years at the helm of the firm
American chipmaking icon's board had felt that Gelsinger's costly and ambitious plan to turn Intel around was not working and the progress of change was not fast enough, Reuters had reported
As of last close, INTC stock up 3% YTD
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