Pat Gelsinger stepped down as CEO of Intel Corporation on December 1, less than four years after taking the top job. Gelsinger, 63, was reportedly given the option of voluntarily resigning or being removed from the board. After careful consideration, he has chosen to retire.
In a post on LinkedIn, Gelsinger wrote: “It has been the honor of my life to lead Intel Corporation. I am forever grateful to the many colleagues around the world that I have worked with as part of the Intel family and am grateful for all that we have accomplished together. I can look back on it with pride. Thank you everyone!”
Pat Gelsinger described his departure from Inter as “bittersweet” and acknowledged that Inter was the center of his career for much of his life. “This company has been my life for most of my active career,” Gelsinger said in a company statement. “We can look back with pride at all we have accomplished together.”
He spoke about the tough but important decisions made to position Intel in an evolving market, and expressed deep gratitude to his “colleagues around the world” and acknowledged their collective efforts as part of the Intel family. .
Intel’s board of directors has named two senior leaders, David Zinsner and Michelle Johnston Holthaus, as interim co-CEOs while the search for a permanent replacement is underway. Zinsner, Intel’s executive vice president and chief financial officer, and Holthaus, who has been named CEO of Intel’s products division, will lead the company through this transition period. Frank Yeary, Intel’s independent chairman of the board, will serve as interim executive chairman.
Yeary praised Gelsinger’s dedication to Inter. “Pat helped ramp up and revitalize process manufacturing by investing in cutting-edge semiconductor manufacturing while working tirelessly to drive innovation across the company,” Yeary said.
Pat Gelsinger’s legacy at Intel spans decades. He began his career at the company in 1979, becoming Intel’s first chief technology officer, and ultimately returning to the company as CEO at a pivotal time in 2021.
He was fired after the board lost confidence in his strategy to turn the company around, Bloomberg reported. The conflict came to a head when Mr. Gelsinger met with the board about Intel’s progress in regaining market share and competing with Nvidia. He was given the choice to retire or be fired.
His resignation comes as the company navigates a rapidly changing semiconductor market. Throughout his tenure, he was known for his focus on innovation and ability to rally the company around urgent strategic priorities. His leadership was considered critical to Intel’s continued efforts to regain competitiveness in the global chip manufacturing industry.
