Asia Tech Wire (Aug 23) -- Intel Corp. has confirmed that U.S. entrepreneur Lip-Bu Tan, 64, is stepping down from its board of directors.

Tan, a semiconductor veteran who joined two years ago to help the U.S. chipmaker's recovery, is resigning from the board.

Malaysian-born Tan, formerly chief executive officer of Cadence Design Systems Inc. and now runs Walden International, a California-based venture capital firm.

In September 2022, Tan joined Intel's board of directors.