Intel has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling American chipmaker ousted company veteran Pat Gelsinger,

Intel's search for a new CEO is in full swing, and the company clearly prefers an outside candidate. The process emphatically mentions two names: Matt

The move to replace Gelsinger - who took charge of Intel less than four years ago - came after the board decided that the pace of his costly plan to turn around Intel's fortunes was not quick enough.

The deliberations on the CEO succession are at an early stage, the sources said, cautioning that Intel has not yet zeroed in on any candidate to replace Gelsinger who stepped down from his role on Monday after being given the choice to retire or be removed.

Intel Corp.’s search for a new chief executive officer will focus heavily on outsiders, with the chipmaker considering candidates such as Marvell Technology Inc. head Matt Murphy and former Cadence Design Systems Inc.

Intel has started shortlisting a handful of candidates, including a former board member, to be its next chief executive.