Intel Corporation Announces the Retirement of CEO Pat Gelsinger

Chip behemoth, Intel Corporation (Intel) announced that CEO Pat Gelsinger has retired after a remarkable 40-plus-year career and has stepped down from the board of directors on December 1, 2024.

Intel has appointed two senior executives, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executives while the board of directors searches for a new CEO. Zinsner is the company's executive vice president and chief financial officer, while Holthaus has been named CEO of Intel Products, which includes the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX). During the transition, Frank Yeary, Intel's independent chair of the board, will serve as temporary executive chair. Intel Foundry's leadership structure stays unchanged.

The board has launched a search committee, which will work hard and quickly to select a permanent successor to Gelsinger.

Throughout Gelsinger's time at Intel in a number of capacities, he has fostered substantial innovation and enhanced not only the company but the entire technology sector. He is a highly recognized leader and excellent engineer who has helped the company focus on innovation while also instilling a feeling of urgency. Gelsinger started working for Intel in 1979 and rose through the ranks to become the company's first chief technology officer.

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. 

Image Credit: Intel Corporation