"We had been too slow to adapt and to meet your needs," Lip-Bu Tan said of Intel's customers on Monday.

In his first remarks as Intel's new CEO, Lip-Bu Tan on Monday outlined a leaner version of the iconic American chipmaker in which he would work directly with engineers to develop new products based on feedback from the company's customers.

Intel's (NASDAQ:INTC) new CEO Lip-Bu Tan, in his first public appearance since taking the helm, has vowed to refocus on innovation and called on customers to provide harsh feedback on the company. "We fell behind on innovation,

During the Intel Vision conference, Tan also said he would focus on boosting Intel’s chip foundry work and recruiting quality engineering talent.

Intel’s new chief executive Lip-Bu Tan told investors during the company’s “Intel Vision” conference that the chip giant has been “too slow to adapt.”

Intel Corp. Chief Executive Officer Lip-Bu Tan said the chipmaker will spin off assets that aren’t central to its mission and create new products including custom semiconductors to try to better align itself with customers.