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

With a permanent CEO, Intel now has some stability. But turning around the design and manufacturing businesses won’t be easy.

Shares of Intel closed 14% higher on Thursday, as Wall Street cheered its decision to name former board member Lip-Bu Tan as CEO, who left in August over differences about the chipmaker's direction, after several years of market underperformance.