Intel Announces Retirement of CEO Pat Gelsinger

Posted: Dec 02, 2024

  • Intel CEO Pat Gelsinger has retired, effective Dec. 1, 2024
  • David Zinsner and Michelle Johnston Holthaus named interim Co-CEOs
  • Holthaus also appointed CEO of Intel Products
  • Frank Yeary named interim executive chair
  • Intel Foundry leadership structure remains unchanged
  • Board of directors forming search committee for permanent CEO
  • Company focusing on regaining investor confidence and putting product group at the center of operations
  • Gelsinger reflects on his time at Intel, credits colleagues and the company for accomplishments
  • Forward-looking statements about future plans, products, services, technologies, growth, and trends
  • Risks and uncertainties associated with future projections and statements consultation
  • About Intel: a leader in technology with a focus on innovation and the semiconductor industry


What do people on Reddit think?

🚨 Reddit sentiment: mixed/negative - Comments include both neutral observations about corporate leadership and negative implications about job cuts and stock performance. Summarized comments: - Saved $10 billion by cutting 15,000 jobs, possibly affecting stock negatively - CEO positions seen as low-risk with high rewards regardless of stock performance - Pat Gelsinger retired before determining if his strategies were successful - Speculation on whether Pat Gelsinger was fired or retired voluntarily - Mention of the 'golden parachute' indicating lucrative exit terms Stock tickers discussed: $INTC



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