Intel CEO Pat Gelsinger announces retirement, co-CEOs named during tumultuous period

Intel CEO Pat Gelsinger retires; co-CEOs lead during tough period.

: Pat Gelsinger announced his departure from Intel, marking the end of a 40-year career. Interim co-CEOs David Zinsner and MJ Holthaus take the helm to steer Intel through financial challenges and investor concerns. The board seeks a permanent CEO amid pressure to regain a leading position in manufacturing.

Pat Gelsinger, after a formidable 40-year career, retired from his role as Intel's CEO, stating it was a lifetime honor. His decision arrives during a challenging time for Intel, calling for strategic moves to handle market dynamics.

In response, Intel appointed David Zinsner, its CFO, and Michelle "MJ" Johnston Holthaus as interim co-CEOs. The pair aims to stabilize operations while the board searches for a permanent CEO, emphasizing the need to restore the company's manufacturing prowess.

Frank Yeary, the board chairman, highlighted the necessity for a streamlined product strategy and enhanced operational efficiency. Intel's financial struggles, compounded by external competition and internal issues, direct the interim leaders to focus on robust manufacturing and resource optimization.

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