Intel announces CEO Pat Gelsinger's retirement, saying he's 'thankful to my colleagues around the world who have worked with me as part of the Intel family'
Intel has announced that Pat Gelsinger, who has served as CEO since 2021, will step down and retire from Intel. Until a new CEO is selected, CFO David Zinsner and Michelle Johnston Holthaus, head of the Client Computing Division, will serve as co-interim CEOs.
Intel Announces Retirement of CEO Pat Gelsinger
Regarding his retirement, Gelsinger said, 'Leading Intel has been the honor of a lifetime. The people at Intel are the best and brightest in the industry, and I am proud to call them all my colleagues. Intel has been a large part of my career, so it is bittersweet to retire, but I can look back with pride on what we have accomplished together. 2024 was a challenging year, with tough but necessary decisions made to position Intel for market forces. I will be forever grateful to the many colleagues around the world who have worked with me as part of the Intel family.'
Gelsinger graduated high school early and earned an associate's degree from Lincoln Institute of Technology while working as an engineer at local news station
He was the lead architect for the fourth-generation 80486 processor, which Intel released in 1989. At the age of 32, he became the youngest vice president in Intel's history at the time, and in 2001 he was appointed CTO.
After leaving the company in 2009, he served as CEO of storage equipment manufacturer EMC and its subsidiary, virtual environment software VMware. In 2021, he returned to Intel as CEO. Even excluding the periods of absence, his career at Intel spans more than 30 years.
Intel Corporation Appoints Technology Leader Pat Gelsinger as CEO
https://www.intel.co.jp/content/www/jp/ja/newsroom/news/leader-pat-gelsinger-as-new-ceo.html
During the CEO transition period, Frank Yearly, Chairman of the Board of Directors, will serve as Interim Executive Chairman.
'On behalf of the board of directors, I would like to thank Pat for his many years of service and dedication to Intel. Pat spent the formative years of his career at Intel before returning to the company in 2021 at a time of crisis. In his leadership role, Pat has invested in cutting-edge semiconductor manufacturing technologies to help ramp up and revitalize process manufacturing while working tirelessly to drive innovation across the company.'
'Intel has made great strides in restoring its manufacturing competitiveness and building the capabilities to become a world-class foundry. However, we recognize that much work remains and we are committed to restoring investor confidence. As a board, we believe that first and foremost, we must keep our product groups at the center of everything we do. Our customers want products, and we deliver them to them. MJ's promotion to permanent CEO of Intel Products and his role as interim co-CEO of Intel will ensure that our product groups have the resources they need to deliver to our customers. Ultimately, process leadership is central to product leadership, and Intel remains committed to its mission as we pursue greater efficiency and profitability.'
'Under Dave and MJ's leadership, we will continue to move quickly to prioritize streamlining and strengthening our product portfolio, increasing our manufacturing and foundry capabilities, and optimizing our operating and capital expenditures. We are building a leaner, simpler, more agile Intel.'
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