Pat Gelsinger Steps Down As Intel CEO Amid Board’s Loss Of Confidence

Intel Chief Executive Officer (CEO) Pat Gelsinger has retired, effective December 1, following a decision by the company’s Board amid performance concerns.

Reports suggest the board asked Gelsinger to step down due to dissatisfaction with his leadership during a period of financial difficulties and market share struggles. The company is grappling with stiff competition from Nvidia and TSMC, disappointing earnings, and workforce reductions of over 15%. Interim leadership responsibility will be shared by CFO David Zinsner and Chief Product Officer Michelle Johnston Holthaus, while the board searches for a new CEO. Gelsinger’s tenure included efforts to revive Intel’s manufacturing edge and expand its foundry business, supported by U.S. government incentives for domestic chipmaking.