After a turbulent nearly four-year stint that saw the company’s stock price and market share plummet, Intel announced Monday that CEO Pat Gelsinger would be retiring from the company with effect from December 1. Gelsinger was once America’s top semiconductor company.
David Zinsner, the CFO of Intel, and MJ Holthaus, the CEO of Intel products, were appointed as interim co-CEOs.
The interim executive chair of Intel will be Frank Yeary, a long-time board member. Intel’s stock was up about 4% on Monday.
After an impressive career at Intel, where he became the company’s first chief technical officer at the turn of the century, Gelsinger, now sixty-three, acquired a prominent position at EMC.
In 2021, Gelsinger rejoined the business after serving as CEO of VMware to stabilise Intel, succeeding Bob Swan as CEO.
Source (CNBC)
