Pat Gelsinger retires after exceeding 40 years, and Intel has also announced recently. Gelsinger also resigned from his position on the board of directors and officially finished on December 1, 2024.
To lead the company during this transition in leadership, Intel named the chief financial officer, David Zinsner, and Michelle (MJ) Johnston Holthaus, the recently appointed chief executive of Intel Products, as interim co-chief executives. Frank Yeary, meanwhile, the board’s independent chair, will serve as interim executive chair. Intel’s board has begun a search for a permanent chief executive.
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Intel’s CEO Pat Gelsinger Resigns, Leaving the Foundry Vision Uncertain
Yeary praised Gelsinger’s many important contributions and his focus on reinvigorating Intel’s world-class semiconductor manufacturing and innovation foundation. He remarked, “While we’ve made progress in reclaiming our competitive edge in manufacturing and advancing foundry capabilities, much work lies ahead. We are committed to restoring investor confidence and prioritizing our product group to meet customer demands.”
Gelsinger, who joined Intel in 1979 and became its first Chief Technology Officer, reflected on his tenure with pride, saying, “Leading Intel has been the honor of my lifetime. While this is bittersweet, I take pride in what we have accomplished together.”
Holthaus and Zinsner emphasized their focus on driving Intel’s future success, especially in product and process leadership. They stated, “We are deeply grateful for Pat’s contributions and are determined to build on his legacy by meeting customer needs and enhancing returns on our foundry investments.”
Zinsner has more than 25 years in finance and technology since beginning at Intel in 2022. Holthaus, a 30-year Intel vet, has served in leadership roles across a number of business units. Intel’s new leadership arrives at an important juncture for the company as it continues to wrestle with high-profile competitors, tight finances, and the long-term process of regaining its hardware crown.
FAQs
Why did Intel CEO Pat Gelsinger resign?
Pat Gelsinger resigned after more than 40 years with Intel, with the company announcing a leadership transition as part of its ongoing efforts to regain competitiveness in the semiconductor industry.
Who is leading Intel after Gelsinger’s departure?
David Zinsner and Michelle Johnston Holthaus have been appointed as interim co-CEOs to oversee Intel’s operations while the board searches for a permanent replacement.
