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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