Investing.com -- On Monday, Lip-Bu Tan, the recently appointed CEO of Intel Corporation (NASDAQ:INTC), laid out an ambitious plan to overhaul the company's culture and operational approach during the IntelVision 2025 conference. Tan, who stepped into the CEO role on March 12, has focused his early efforts on engaging with customers and identifying significant areas for improvement. He emphasized the need for Intel to "underpromise and overdeliver," a motto he considers his trademark.
Tan's vision for Intel is to become an engineering-centric organization, prioritizing the attraction and retention of top engineering talent to drive innovation and growth. He acknowledged that Intel has experienced a talent drain and stressed the importance of fostering a culture that empowers engineers and spurs innovation.
The CEO's mission is to create industry-leading products and establish Intel as the premier foundry, unleashing the potential of its engineering workforce. When questioned as to why he would take the job at Intel, a company that has been behind and struggling for years, Tan admitted, "I love this company... I simply could not stay on the sideline knowing I could help turn things around."
In his keynote, Tan spoke candidly about the challenges facing Intel, including the company's struggle to keep pace with innovation and customer needs. He outlined a strategy centered on culture change, focusing on innovation as the core of the business.
As CEO, Tan plans to fortify Intel's balance sheet, drive efficiency, and rebuild the talent pool with a clear business plan. He highlighted the need for a startup-like culture within Intel to encourage fresh ideas and internal innovation.
The CEO also touched on the potential for Intel to play a significant role in humanoid robotics, teasing future involvement in the sector. He revealed plans to redefine Intel's strategy, freeing up resources by divesting non-core businesses and concentrating on expanding core business areas focused on AI and software 2.0.
Tan proposed a shift in product design philosophy from an inside-out to an outside-in approach, prioritizing software design and developing hardware tailored to it. He reiterated Intel's commitment to delivering top-quality products, emphasizing performance, efficiency, and on-time delivery as non-negotiables.
The semiconductor industry vet detailed his aspirations for client computing and data centers, including shipping PantherLake on 18a later this year and improving Intel's offerings in AI data and inferencing. Additionally, Tan reaffirmed his dedication to advancing Intel's foundry capabilities, citing the importance of chip production and the advancement of Intel's 18a and future 14a nodes.
In closing, Tan made a pledge to Intel's customers, promising dedication to exceeding their expectations and earning their trust. Tan committed himself to the company's journey, vowing to remain at the helm as long as needed.
