Intel CEO Pat Gelsinger retires, reports of ultimatum by board

Over the weekend, Intel announced the retirement of its CEO Pat Gelsinger who has been in the role since February 2021. While the company writes in a news release that the now-former CEO had a “distinguished 40-plus-year career and has stepped down from the board of directors,” a report suggests he wasn’t given the option to stay in the position. Bloomberg reports that Gelsinger was “given the option to retire or be removed, and chose to announce the end of his career at Intel.” They write their sources are people who have asked not to be identified because the proceedings weren’t made public. Two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, have been named as interim co-chief executive officers while Intel’s board of directors conducts a search for a new CEO. The board has formed a search committee to try and find a permanent successor to Gelsinger. Frank Yeary, the independent chair of the board, will become interim executive chair during the period of transition.

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Intel Ceo Pat Gelsinger Retires, Reports Of Ultimatum By Board

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Intel Ceo Pat Gelsinger Retires, Reports Of Ultimatum By Board

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