Intel on Wednesday named former board member and chip industry veteran Lip-Bu Tan as its CEO and signaled the struggling but storied chipmaker was unlikely to split up its chip-design and manufacturing operations.

In his letter to Intel employees, new chief executive officer Lip-Bu Tan, who starts his new job next Tuesday, tells them that he is “never deterred by

Struggling U.S. chipmaker Intel on Wednesday named former board member Lip-Bu Tan as its CEO effective March 18.