Pat Gelsinger has stepped down as the CEO of Intel Corporation effective December 1, just under four years after taking the top job. Mr Gelsinger, 63, was reportedly given the option to voluntarily retire or be removed by the company's board. After careful consideration, he chose to retire.
In a post on LinkedIn, Mr Gelsinger wrote, “Leading Intel Corporation has been the honour of my lifetime. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family and can look back with pride at all that we have accomplished together. Thank you all!”
Pat Gelsinger described his departure from Intel as “bittersweet”, acknowledging the company had been central to his career for much of his life. “This company has been my life for the bulk of my working career,” Mr Gelsinger said in a company statement. “I can look back with pride at all that we have accomplished together.”
He talked about the tough yet essential decisions made to position Intel for the evolving market and expressed deep gratitude for his “colleagues around the world”, recognising their collective efforts as part of the Intel family.
Intel's board of directors named two senior leaders, David Zinsner and Michelle Johnston Holthaus, as interim co-CEOs, while a search for a permanent replacement is underway. Mr Zinsner, Intel's executive vice president and CFO, and Holthaus, appointed CEO of Intel Products, will lead the company through this transitional period. Frank Yeary, Intel's independent board chair, will step in as interim executive chair.
Mr Yeary praised Mr Gelsinger for his dedication to Intel. “Pat helped launch and revitalise process manufacturing by investing in state-of-the-art semiconductor manufacturing while working tirelessly to drive innovation throughout the company,” Mr Yeary said.
Pat Gelsinger's legacy at Intel spans several decades. He started his career at the company in 1979 and became Intel's first Chief Technology Officer before eventually returning to the company as CEO in 2021 during a critical time.
He was forced out after the board lost confidence in his strategy to revitalise the company, Bloomberg reported. The clash reached its peak when Mr Gelsinger met with the board to discuss Intel's progress in regaining market share and competing with Nvidia. He was given the choice to retire or be removed.
His resignation comes as the company navigates a rapidly changing semiconductor market. Throughout his tenure, he was known for his focus on innovation and his ability to rally the company around urgent strategic priorities. His leadership was seen as crucial to Intel's ongoing efforts to regain its competitive edge in the global chipmaking industry.
