Pat Gelsinger, CEO of Intel, resigns after a disastrous tenure

Forbes

Intel CEO Pat Gelsinger Retires Amid Silicon Valley Firm’s Rut

Guardian

Intel CEO Pat Gelsinger retires amid chipmaker’s struggles

Reuters

Intel Ceo Pat Gelsinger Retire 2024 12 02

TechCrunch

Intel CEO Pat Gelsinger retires

Wall Street Journal

Intel Ceo Gelsinger Retires Leaves Board Cb2478E

Intel's Chief Executive Officer Pat Gelsinger has abruptly retired effective Dec. 1, 2024, stepping down from both his position and the company's board after less than four years at the helm.

Intel's Chief Executive Officer Pat Gelsinger has abruptly retired effective Dec. 1, 2024, stepping down from both his position and the company's board after less than four years at the helm.

The lead architect of Intel's 4th generation 80486 processor, introduced in 1989, and the youngest VP in the company's history, Gelsinger was reportedly given the option to retire or be removed.

Computerworld

The lead architect of Intel's 4th generation 80486 processor, introduced in 1989, and the youngest VP in the company's history, Gelsinger was reportedly given the option to retire or be removed.

The company has named Executive Vice Pres. and Chief Financial Officer David Zinsner and newly-appointed CEO of Intel Products Michelle Johnston Holthaus as interim co-CEOs.

Nasdaq

The company has named Executive Vice Pres. and Chief Financial Officer David Zinsner and newly-appointed CEO of Intel Products Michelle Johnston Holthaus as interim co-CEOs.

Under Gelsinger's leadership, Intel's stock declined by 53%, while competitor Nvidia's value soared to $3.4T, making it 33 times more valuable than Intel's $104B market capitalization.

VentureBeat

Under Gelsinger's leadership, Intel's stock declined by 53%, while competitor Nvidia's value soared to $3.4T, making it 33 times more valuable than Intel's $104B market capitalization.

Intel recently announced a 15% workforce reduction, affecting approximately 15K jobs, as part of a $10B cost-reduction plan to address declining revenues. The chip maker's revenue fell to $54B in 2023.

Intel recently announced a 15% workforce reduction, affecting approximately 15K jobs, as part of a $10B cost-reduction plan to address declining revenues. The chip maker's revenue fell to $54B in 2023.

Though Intel's revenue tumbled about one-third from when Gelsinger took over, the US Commerce Department awarded Intel $7.86B through the CHIPS Act to advance semiconductor manufacturing in Arizona, New Mexico, Ohio, and Oregon.

Though Intel's revenue tumbled about one-third from when Gelsinger took over, the US Commerce Department awarded Intel $7.86B through the CHIPS Act to advance semiconductor manufacturing in Arizona, New Mexico, Ohio, and Oregon.

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The company has named CFO David Zinsner and Michelle Johnston Holthaus as interim co-CEOs while conducting a search for a permanent replacement, with Holthaus also appointed as CEO of Intel Products.

CNN #

Under Gelsinger's leadership, Intel's stock declined by 53%, while competitor Nvidia's value soared to $3.4 trillion, making it 33 times more valuable than Intel's $104 billion market capitalization.

VentureBeat #

Intel recently announced a 15% workforce reduction, affecting approximately 15,000 jobs, as part of a $10 billion cost-reduction plan to address declining revenues.

TechCrunch #

The U.S. Commerce Department recently awarded Intel $7.86 billion through the CHIPS Act to advance semiconductor manufacturing in Arizona, New Mexico, Ohio, and Oregon.

Reuters #

Intel's revenue declined to $54 billion in 2023, down about one-third from when Gelsinger took over, with analysts projecting the company's first annual loss since 1986.

Forbes #

The sudden departure disrupts Intel's ambitious turnaround plan, including its strategy to become a major contract manufacturer and restore American semiconductor leadership, potentially jeopardizing crucial initiatives and partnerships that were showing early signs of progress.

Intel CEO Pat Gelsinger resigns without a permanent successor

Intel CEO Exits as Chip Giant Struggles in AI Race

Computers & internet

Science & technology

United States of America

The leadership change represents a necessary step toward revitalization. Intel couldn't effectively compete in the artificial intelligence (AI) chip market and lost significant ground to rivals like Nvidia and AMD. The chipmaker requires fresh leadership to restore investor confidence and build improved semiconductors that can power the AI boom.

The leadership change represents a necessary step toward revitalization. Intel couldn't effectively compete in the artificial intelligence (AI) chip market and lost significant ground to rivals like Nvidia and AMD. The chipmaker requires fresh leadership to restore investor confidence and build improved semiconductors that can power the AI boom.

Intel Corporation

Intel Announces Retirement of CEO Pat Gelsinger

Investing.com

Intel CEO Pat Gelsinger retires, stock rises By Investing.com

The sudden departure disrupts Intel's ambitious turnaround plan, including its strategy to become a major contract manufacturer and restore American semiconductor leadership. Gelsinger's abrupt departure potentially jeopardizes crucial initiatives and partnerships, which were showing early signs of progress.

The sudden departure disrupts Intel's ambitious turnaround plan, including its strategy to become a major contract manufacturer and restore American semiconductor leadership. Gelsinger's abrupt departure potentially jeopardizes crucial initiatives and partnerships, which were showing early signs of progress.

Bloomberg

Intel Ceo Pat Gelsinger Retires Amid Chipmaker Turnaround Pla

New York Times

Intel CEO Pat Gelsinger Steps Down Amid Chipmaker’s Struggles

There's a 40% chance that Nvidia will have the largest market cap in the world at the end of 2024, according to the Metaculus prediction community.

There's a 40% chance that Nvidia will have the largest market cap in the world at the end of 2024, according to the Metaculus prediction community.

Intel CEO Pat Gelsinger Steps Down

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