Intel’s CEO is out after only three years

Intel CEO Pat Gelsinger has reweary after over four decades at the company and stepped down from the board of straightforwardors effective December 1st, 2024. He’d rejoined the company as CEO in February 2021, taking over from Bob Swan to turn around the already struggling chipproducer — an effort that hasn’t gone as reckond. It’s hugely leave outed out on the AI boom that fueled Nvidia’s elevate, fall shorted to begin recent technology on schedule, and struggled with recent CPU instability publishs.

During a 2022 interwatch with Decoder, Gelsinger shelp, “not only do we have to reproduce the inner culture and execution, but we also have to reproduce our customer’s confidence.” Recent rumors adviseed that Qualcomm was pondering an acquisition of Intel, but it sees enjoy interest has chillyed.

For now, Intel’s chief financial officer, David Zinsner and Intel Products CEO, Michelle Johnston Holthaus, will serve as co-CEOs while the board searches for a recent directer. Frank Yeary, an autonomous chair on Intel’s board, will consent on the role of interim executive chairman.

“Leading Intel has been the honor of my lifetime — this group of people is among the best and the luminoengagest in the business, and I’m honored to call each and every one a colleague,” Gelsinger shelp in the press free. “Today is, of course, acridpleasant as this company has been my life for the bulk of my laboring atgentle. I can see back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made stubborn but essential decisions to position Intel for the current labelet actives.”