Intel

2024 - 12 - 3

Intel Has a New Boss... But Not Without Drama!

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Intel’s CEO Pat Gelsinger shockingly retires, leaving chaos in his wake. Who are the new co-captains steering this ship?

In a surprising development, Intel has announced the retirement of its CEO Pat Gelsinger. After a storied career spanning over 40 years in the tech industry, Gelsinger's departure comes amidst a challenging period for the chipmaker known for its dominance in the silicon world. In his stead, David Zinsner, who previously served as Intel's CFO, and Michelle Johnston Holthaus, the executive vice president, have been named as interim co-CEOs. Holthaus also takes on the newly created position of CEO of Intel Products, which hints at a crucial focus on product direction as the company navigates turbulent times.

Gelsinger’s exit has sent shockwaves through the tech industry, especially as Intel faces a tough gig in the competitive landscape dominated by rivals like AMD and NVIDIA. Speculations are rife about a significant loss of confidence in Gelsinger’s leadership following a $16.6 billion loss in the latest quarter and a staggering 52% drop in stock value this year alone. The outgoing CEO's promise of revitalizing the company encountered hurdles in the form of delays and slower-than-expected advancements in chip technology—a scenario that mirrors a rollercoaster of emotions for Intel employees and stakeholders alike.

With Gelsinger gone, attention now shifts to Zinsner and Holthaus as they undertake the formidable challenge of leading Intel through its most critical AI transition to date. Known for their expertise and leadership, they will need to unite the forces within the company and pivot Intel’s strategy towards innovation and responsiveness in the face of escalating competition. As the tech giant repositions itself, it remains to be seen how effectively these leaders will navigate the complexities of product development and market demand in the fast-evolving semiconductor industry.

Interestingly, Gelsinger’s tenure had initially been marked by high hopes of turning Intel’s fortunes around with ambitious plans for manufacturing and technology investments. However, the fallout from manufacturing delays has led to serious questions about Intel’s viability as a leader in the space. Did you know that Intel was once known for using smaller clock speeds to process data efficiently? It’s crazy to think how far the company has come and the challenges it now faces as it attempts to regain its footing! Meanwhile, Holthaus brings a wealth of experience to her new role, having previously been pivotal in positioning Intel’s client computing group as a powerhouse. It’s a turbulent time at Intel, and industry watchers will be keenly observing how this dynamic duo leads the company into its next chapter!

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Image courtesy of "Investor Relations :: Intel Corporation (INTC)"

Intel Announces Retirement of CEO Pat Gelsinger (Investor Relations :: Intel Corporation (INTC))

David Zinsner and Michelle Johnston Holthaus named interim Co-CEOs. Holthaus also appointed to the newly created position of CEO of Intel Products.

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Image courtesy of "Aljazeera.com"

Intel CEO Pat Gelsinger forced out in surprise move (Aljazeera.com)

The departure of Gelsinger, whose career spanned more than 40 years, underscores the turmoil at Intel.

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Image courtesy of "Financial Times"

Intel chief Pat Gelsinger quits with US chipmaker in crisis (Financial Times)

California-based Intel said on Monday that the 63-year-old would be replaced by chief financial officer David Zinsner and executive vice-president Michelle ...

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Image courtesy of "Yahoo Finance"

Intel CEO Pat Gelsinger pushed out following tumultuous tenure ... (Yahoo Finance)

Intel CEO Pat Gelsinger retired over the holiday weekend, leaving the tech giant with new leadership amid the pivotal AI transition.

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Image courtesy of "The Guardian"

Intel CEO Pat Gelsinger retires amid chipmaker's struggles (The Guardian)

David Zinsner and Michelle Johnson Holthaus named interim co-CEOs of company fighting to keep up with rivals.

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Image courtesy of "Investor's Business Daily"

Intel Stock Wavers On CEO Pat Gelsinger's Departure (Investor's Business Daily)

Intel announced Monday that CEO Pat Gelsinger has retired. Two senior executives have been named interim co-CEOs.

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Image courtesy of "CBS News"

Intel CEO Pat Gelsinger retires as struggling chipmaker searches for ... (CBS News)

David Zinsner and Michelle Johnston Holthaus have been named as interim co-CEOs.

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Image courtesy of "Forbes"

Why Intel Stock May Fall After Its CEO's Removal (Forbes)

After a 52% stock plunge in 2024, a 6% revenue drop paired with a whopping $16.6 billion loss in the latest quarter, Intel's board ousted CEO Pat Gelsinger.

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Image courtesy of "ComputerWeekly.com"

Intel confirms CEO Pat Gelsinger has left the company (ComputerWeekly.com)

Zinsner previously served as executive vice president and chief financial officer at Intel, while Holthaus is the CEO of the client computing, datacentre, ...

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Image courtesy of "Yahoo Finance"

Intel CEO Gelsinger forced out after board lost confidence in ... (Yahoo Finance)

SAN FRANCISCO (Reuters) -Intel Chief Executive Pat Gelsinger has been forced out less than four years after taking the helm of the company, handing control ...

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Image courtesy of "Malay Mail"

Intel CEO Gelsinger leaves amid turnaround troubles (Malay Mail)

NEW YORK, Dec 3 — Intel announced yesterday that CEO Pat Gelsinger has retired effective December 1, as the once dominant chip-making giant company ...

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Image courtesy of "Yahoo Finance UK"

A month before Intel CEO's surprise exit, former board members ... (Yahoo Finance UK)

In an October op-ed published by Fortune, a group of former directors praised Pat Gelsinger but called for him to carry out a complete breakup of the ...

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Image courtesy of "Yahoo Finance"

Intel's CEO Departure Opens Door to Fresh Deal Discussions (Yahoo Finance)

(Bloomberg) -- The abrupt departure of Intel Corp. Chief Executive Officer Pat Gelsinger offers a fresh opportunity for the troubled company to consider ...

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Image courtesy of "CRN"

Partners: Gelsinger's Sudden Exit From Intel Stirs Doubt About Its ... (CRN)

Intel channel partners told CRN on Monday that the sudden departure of CEO Pat Gelsinger has created uncertainty about its current strategy and suggested ...

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Image courtesy of "Financial Times"

Intel's turnaround falters (Financial Times)

In today's newsletter: Intel's chief quits with chipmaker in crisis. 9fin raises $50mn in fresh investment round. Fewer people want a CFA certificate. If Pat ...

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Image courtesy of "台北時報"

Intel CEO Gelsinger retires amid chipmaker's turnaround plan (台北時報)

Intel Corp chief executive officer Pat Gelsinger has retired from the company and stepped down from its board of directors just as the company is in the ...

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Image courtesy of "Inc.com"

Intel Just Forced Out Its CEO. It's a Brutal Lesson Every Leader ... (Inc.com)

That was the promise when the company named him to the top job back in February of 2021. A respected CEO and former Intel engineer, Gelsinger checked all the ...

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Image courtesy of "Reuters"

Exclusive: Intel's CEO-shortlist candidates include former board ... (Reuters)

Intel has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling ...

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Image courtesy of "PRNewswire"

Intel's Real Threat: ARM? Per Liftr Insights data (PRNewswire)

PRNewswire/ -- Liftr Insights, a pioneer in market intelligence driven by unique data, revealed data providing a glimpse into the growth of ARM and its ...

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Image courtesy of "Investor's Business Daily"

Intel's Search For New CEO: What Investors Should Know (Investor's Business Daily)

Intel has begun a search for a new CEO following the sudden departure of Pat Gelsinger. Here are key issues Intel stock investors should know.

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Image courtesy of "Yahoo Finance UK"

Exclusive-Intel's CEO-shortlist candidates include former board ... (Yahoo Finance UK)

Intel has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling ...

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Image courtesy of "Barron's"

Intel's Big Bet That Sank the Stock and Its CEO (Barron's)

Intel CEO Pat Gelsinger's plan to supercharge chip production appears to have backfired dramatically. Analysts expect a shake-up to Intel's foundry business ...

Intel's CEO-shortlist candidates include former board member Lip ... (The Business Times)

INTEL has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling ...

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Image courtesy of "The Edge Markets MY"

Intel's ousted CEO Gelsinger to receive up to US$12m payout (The Edge Markets MY)

Intel former CEO Pat Gelsinger could get as much as US$12 million (RM53.6 million) as payout, a regulatory filing showed on Tuesday, following his ouster ...

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Image courtesy of "The Malaysian Reserve"

Intel CEO forced out by board frustrated with slow... (The Malaysian Reserve)

Intel Corp. Chief Executive Officer Pat Gelsinger was forced out after the board lost confidence in his plans to turn around the iconic chipmaker, ...

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Image courtesy of "Yahoo Finance"

Intel Considers Outsiders for CEO, Including Marvell's Head (Yahoo Finance)

(Bloomberg) -- Intel Corp.'s search for a new chief executive officer will focus heavily on outsiders, with the chipmaker considering candidates such as ...

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Image courtesy of "Yahoo Movies"

Why Intel Stock Is Sinking Today (Yahoo Movies)

Intel (NASDAQ: INTC) stock is losing ground in Tuesday's trading. The semiconductor company's share price was down 5.8% as of 2 p.m. ET.

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Image courtesy of "CNBC"

Intel considers an outside CEO, taps headhunters, sources say (CNBC)

Intel is considering tapping an outside hire as CEO, a nearly unprecedented occurrence, as the company reels from the ouster of Pat Gelsinger.

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Image courtesy of "Yahoo Finance UK"

Intel's New CEO Change Unlikely To Help Gain Traction Versus ... (Yahoo Finance UK)

Intel Corp (NASDAQ:INTC) has reportedly narrowed its search for a new CEO. The list of potential candidates has now been whittled down to a few prominent ...

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Image courtesy of "CNNMoney"

Ousted Intel CEO Pat Gelsinger is leaving the company with millions (CNNMoney)

Pat Gelsinger, CEO of Intel, arrives onstage for a keynote conversation during CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, ...

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Image courtesy of "CFO Dive"

Intel CFO takes interim co-CEO role after board ousts top exec (CFO Dive)

CFO David Zinsner will step in as interim co-CEO as Intel races to regain lost ground in the GenAI race after reporting a record loss of $16.6 billion for ...

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Image courtesy of "Yahoo Finance"

Analysts reset Intel stock forecasts after CEO exits (Yahoo Finance)

It was a sign of the times. On Nov. 1 S&P Global said that AI-chip heavyweight Nvidia (NVDA) would replace Intel (INTC) in the Dow Jones Industrial Average ...

Intel Corporation to Participate in Upcoming Investor Conferences (Investor Relations :: Intel Corporation (INTC))

PST, Zinsner and Michelle Johnston Holthaus, interim co-chief executive officer and CEO of Intel Products, will participate in a fireside chat on Intel's ...

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Image courtesy of "The Edge Markets MY"

Intel evaluating outsiders for CEO role, including Malaysia-born Lip ... (The Edge Markets MY)

Intel has started evaluating a handful of outsiders, including former board member Lip-Bu Tan, for the role of its chief executive officer, ...

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