Reported 2 days ago
Intel has announced the retirement of CEO Pat Gelsinger, effective December 1, 2024, after a challenging three-year tenure aimed at revitalizing the company. The decision reportedly stemmed from a loss of confidence among the board members, leading to the appointment of interim co-CEOs David Zinsner and Michelle Johnston Holthaus. Gelsinger's efforts to shift Intel towards manufacturing chips for other companies faced skepticism from analysts, and the company's stock has struggled amidst fierce competition and lagging sales in the PC chip market.
Source: YAHOO