Intel CEO Signals That He’ll Stick With Contentious Foundry Plan

Incoming Intel Corp. Chief Executive Officer Lip-Bu Tan is signaling that he’ll stick with his predecessor’s plan to make chips for other companies, even as he vows to learn from past mistakes.

Tan, who was named to the CEO job on Wednesday, sent a letter to employees before meeting with staff in the afternoon, offering a rough sketch of his plans for the embattled chipmaker. Part of the message: He will keep working to make Intel a top foundry — a business that produces chips for outside clients. That endeavor has been costly for Intel so far, and contributed to the ouster of prior CEO Pat Gelsinger.