(Reuters) - Intel ( INTC ) tapped former board member Lip-Bu Tan as its CEO on Wednesday, as the struggling American chipmaking icon attempts to emerge from one of its bleakest periods.

Tan, a respected semiconductor industry veteran who will take the mantle on March 18, had been seen as a CEO contender since Intel ( INTC ) ousted company veteran Pat Gelsinger last year.

Here are some details about him:

* A 65-year-old Malaysian-born executive, Tan studiedphysics at Nanyang Technological University in Singapore. * He holds a master's degree in nuclear engineering from theMassachusetts Institute of Technology, and an MBA from theUniversity of San Francisco. * A longtime technology investor, he has played differentroles at several companies. He is chairperson of WaldenInternational, a San Francisco-based venture capital firm, since1984. * Tan helmed Intel ( INTC ) supplier and chip-design maker CadenceDesign Systems between 2009 and 2021. * He was on the boards of Hewlett Packard Enterprise ( HPE ) andSoftBank Group. * Tan was appointed to Intel's ( INTC ) board in 2022 as part of aplan to restore the company's place as the leading globalchipmaker. A year later, Intel ( INTC ) expanded his responsibilities toinclude oversight of manufacturing operations. However, Tanstepped down from the board last year over disagreements on howto turn around the company. * On Wednesday, in a letter to Intel ( INTC ) employees, Tan signaledhe would not split up the company's design and manufacturingbusinesses. "Intel ( INTC ) plays an essential role in the technologyecosystem, both in the U.S. and around the world. And, together,I'm confident we can turn our business around," he said.Source: LinkedIn, Intel ( INTC ) website