Here is the most likely candidate to become new Intel CEO

Lip-Bu Tan, who resigned from Intel’s (NASDAQ:INTC) director board in August, has emerged as the most likely candidate to lead the company in the wake of its former CEO Patrick Gelsinger’s abrupt departure this month, according to a Seeking Alpha analyst.

Analyst Hunting Alpha’s assertion came after the semiconductor giant named David Zinsner and Michelle Johnston Holthaus as interim CEOs following the surprising retirement of Gelsinger, who spearheaded the company’s recent turnaround efforts.

The Santa Clara, California-based tech giant has enlisted executive search firm Spencer Stuart to help find its next CEO as Gelsinger’s exit exacerbated the stock’s recent selloff, triggering a need for near-term stability.

Following his return to Intel (NASDAQ:INTC) as CEO in 2021, Gelsinger has witnessed the company’s stock fall ~64% and the departure of Lip-Bu Tan reportedly over concerns about the company’s turnaround plans.

Tan, who joined the INTC board about two years ago, was at odds with Gelsinger and other board members about the size of the company’s labor force, risk-averse culture, and AI strategy at the time of his departure, Reuters had reported.

Hunting Alpha points out that Tan, a veteran in the semiconductor industry, saw Cadence Design Systems (CDNS) outperform during his leadership at the electronic design company from January 2009 to December 2021.

“I think this is a strong signal of Tan’s competency,” the analyst wrote, noting that his familiarity with Intel (INTC), given his previous board membership at the company, will be an added advantage.

“Overall, I believe this suggests that Lip-Bu Tan has a clear plan on what moves to make to redirect Intel on a different, potentially more promising path,” Hunting Alpha argued.

According to the analyst, Matt Murphy, CEO of Marvell Technologies (MRVL), is another strong candidate to become Intel (INTC) CEO. MRVL has outperformed the S&P 500 by more than 4x since his appointment to the chipmaker’s leadership position in July 2016, Hunting Alpha wrote.

However, Murphy’s ongoing commitment to Marvell (MRVL) makes him less likely to jump ship and join Intel (INTC), the analyst added. “Matt Murphy’s successful turnaround at Marvell also makes him a candidate for Intel’s CEO position, but he is committed to Marvell, making his Intel appointment unlikely.”

In response to a recent Bloomberg News report, Intel (INTC) declined to comment on potential CEO candidates. Marvell (MRVL), Murphy, and Tan also turned down requests for comments.