I’ve been reading M.G. Siegler for years. Ever since the early days of TechCrunch. I saw this morning in his Spyglass Digest that Pat Gelsinger is suddenly out at Intel. This from Business Wire.
Intel has missed several market movements. Mobile and AI to name two. Their manufacturing processes began to lag several years ago. Gelsinger was an Intel veteran who had done well at his last gig. It was hoped he could stir things up. This latest loss from the Biden Administration’s Chips Act probably was the proverbial straw.
Intel Corporation (NASDAQ: INTC) today announced that CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024.
Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group (CCG), Data Center and AI Group (DCAI) and Network and Edge Group (NEX). Frank Yeary, independent chair of the board of Intel, will become interim executive chair during the period of transition. Intel Foundry leadership structure remains unchanged.
