Intel's Chief Executive Officer Pat Gelsinger retires from the company

Intel has announced major changes in its leadership. Pat Gelsinger, the current CEO, has left its position and stepped down from the board of directors effective December 1, 2024. David Zinsner and Michelle Johnston Holthaus are new interim co-CEOs who will hold the position until the board of directors finds a new head for the company.

David Zisner is Intel's executive vice president (EVP) and chief financial officer (CFO). Michelle Johnston Holthaus is the CEO of Intel Products, which governs Intel's Client Computing Group, Data Center, AI Group, and Network and Edge Group. Frank Yeary will manage the Intel Products group during the transition period.

Pat worked at Intel for over 30 years and was responsible for multiple technology achievements as the company's chief technology officer. He left Intel in 2009 and returned to the company in February 2021 as a new CEO after Bob Swan stepped down.

The news about Pat Gelsinger retiring from Intel came during troubling times for the company. It faced various issues, such as problems with 13th and 14th-generation processors, massive layoffs, cost-cutting measures, the suspension of building new plants in Europe, and even rumors about Qualcomm acquiring Intel.

Here is what Pat Gelsinger said about his retirement:

Leading Intel has been the honor of my lifetime – this group of people is among the best and the brightest in the business, and I’m honored to call each and every one a colleague. Today is, of course, bittersweet as this company has been my life for the bulk of my working career. I can look back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family.

You can read Intel's complete press release on the official website.

Source

Hope you enjoyed this news post.

Thank you for appreciating my time and effort posting news every day for many years.

2023: Over 5,800 news posts | 2024 (till end of November): 5,298 news posts

RIP Matrix | Farewell my friend