Intel Corporation has officially announced the retirement of CEO Pat Gelsinger, effective December 1, 2024. Gelsinger, who has dedicated over 40 years to the company and played a crucial role in its technological transformation since returning as CEO in 2021, is also stepping down from the board of directors. His contributions included revitalizing Intel’s manufacturing capabilities and driving significant innovation across the organization.
In the wake of Gelsinger’s departure, the company has appointed David Zinsner and Michelle Johnston Holthaus as interim co-CEOs. Zinsner currently serves as the chief financial officer, and Holthaus will also take on the newly established title of CEO of Intel Products, overseeing several core divisions including the Client Computing Group, Data Center and AI Group, and Network and Edge Group. Frank Yeary will take on the role of interim executive chair during this transition period.
The board of directors has formed a search committee to swiftly find Gelsinger’s permanent successor. Yeary expressed gratitude for Gelsinger’s leadership and emphasized the company’s ongoing commitment to enhancing manufacturing competitiveness and meeting customer demands.
Gelsinger reflected on his tenure, stating that leading Intel has been the highlight of his career, and he is proud of the collective accomplishments made during his time. He acknowledged the challenges faced by the company and the difficult decisions made to navigate the current market landscape.
Zinsner and Holthaus are focused on continuing the momentum in product and process leadership and are committed to addressing customer needs as Intel seeks to simplify and strengthen its product offerings.
As the company moves forward, the leadership transition is seen as an opportunity for renewal and growth. With a dedicated team in place, Intel aims to not only maintain its position in the semiconductor industry but to further enhance its innovation and efficiency, fostering a future of technological advancement.
In summary, while the departure of a long-standing CEO may seem daunting, it simultaneously opens the door to fresh perspectives and strategies for Intel, positioning the company for continued success in the semiconductor landscape.