Intel CEO Pat Gelsinger Steps Down After Disastrous Tenure
Pat Gelsinger resigned as Intel CEO after a challenging tenure marked by declining stock performance (down 61%) and missed opportunities in the AI boom, allowing competitors like Nvidia to surge ahead. His efforts to revitalize the company, including cost-cutting measures such as a 15% workforce reduction and a focus on foundry services, proved insufficient to reverse Intel’s fortunes. The company is now under interim leadership from co-CEOs David Zinsner and Michelle Johnston Holthaus while searching for a permanent replacement, aiming to streamline operations and bolster investor confidence. This transition comes amidst ongoing struggles, including delays in government-funded manufacturing expansions.
John Q. Hosedrinker