Intel has announced the retirement of its CEO, Pat Gelsinger, after over 40 years with the company.
Gelsinger, who also stepped down from the board of directors, officially ended his tenure on December 1, 2024.
Gelsinger first joined Intel in 1979.
Intel has announced the retirement of its CEO, Pat Gelsinger, after over 40 years with the company. Gelsinger, who also stepped down from the board of directors, officially ended his tenure on December 1, 2024.
To navigate this transition, Intel has appointed David Zinsner, its chief financial officer, and Michelle (MJ) Johnston Holthaus, now CEO of Intel Products, as interim co-CEOs. Frank Yeary, the independent chair of the board of Intel, will serve as interim executive chair during the period of transition.
Intel’s board has already begun the search for a permanent CEO. Yeary expressed gratitude for Gelsinger’s contributions, particularly his focus on revitalising Intel’s semiconductor manufacturing and fostering innovation. He added, “While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence. As a board, we know first and foremost that we must put our product group at the center of all we do. Our customers demand this from us, and we will deliver for them.
Gelsinger, who first joined Intel in 1979 and rose to become its first chief technology officer, played a key role in shaping the company’s technology strategy. Reflecting on his time at Intel, Gelsinger said, “Leading Intel has been the honor of my lifetime.” “Today is, of course, bittersweet as this company has been my life for the bulk of my working career. I can look back with pride at all that we have accomplished together.”
Also read: Intel brings back free coffee and tea for employees despite facing cash crunch
Holthaus and Zinsner emphasised their commitment to Intel’s future. They stated, “We are grateful for Pat’s commitment to Intel over these many years as well as his leadership. We will redouble our commitment to Intel Products and meeting customer needs. With our product and process leadership progressing, we will be focused on driving returns on foundry investments.”
Zinsner, who joined Intel in 2022, brings over 25 years of experience in finance and technology, while Holthaus has been with the company for nearly three decades, holding leadership roles across various units.
The leadership transition comes as Intel continues to face challenges, including intense competition, financial problems and the need to regain leadership.
Follow Us
Ayushi Jain
Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile
