Intel CEO steps down after a disastrous 2024 While Pat Gelsinger says he's retiring, it's not hard to see it as getting the boot from Intel's board.
By
Michael CriderStaff Writer, PCWorld Dec 2, 2024 7:15 am PST
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There is no joy in Mudville Intel’s corporate headquarters. The company has had an epically horrible year, with widespread issues plaguing its flagship chips, massive upswings from rivals AMD and Nvidia, and a stock downturn so dramatic it’s been called one of the worst performers in the industry. So, maybe it isn’t surprising that CEO Pat Gelsinger is leaving.
The announcement was made
via press release this morning, calling the move a retirement. Two current executives, David Zinsner and Michelle Johnston Holthaus, will function as co-CEOs while Intel’s board searches for a more permanent replacement.
Intel’s stock price has
fallen by more than 50 percent in under a year, making it one of the worst performers in an otherwise bullish space in the market.
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Looks like Intel's turnaround is going to take much longer without a CEO. Not very surprising as Intel has had nonstop one disaster after another