Pat Gelsinger, CEO of Beleaguered Intel, exits

Beleaguered Intel on Monday announced that CEO Pat Gelsinger retired from the company after a 40-plus-year career and has stepped down from the board of directors, effective December 1, 2024.

Beleaguered Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group (CCG), Data Center and AI Group (DCAI) and Network and Edge Group (NEX). Frank Yeary, independent chair of the board of Intel, will become interim executive chair during the period of transition. Intel Foundry leadership structure remains unchanged.

Beleaguered Intel’s board has formed a search committee and will work diligently and expeditiously to find a permanent successor to Gelsinger.
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MacDailyNews Take: As we wrote way back in May 2013:

[Intel’s decision to pass on Apple’s iPhone] has to be close to the top of the list of Biggest Business Mistakes in History.

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