Video: Intel CEO Pat Gelsinger Abruptly Retires Following Difficult Year For Company

this week Intel Corporation announced the immediate retirement of CEO Pat galinger effective December 1st 2024 gelsinger posted a brief statement on his LinkedIn page on December 3rd saying quote leading Intel Corporation has been the honor of my lifetime I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family and can look back with pride at all that we have accomplished together thank you all the news comes after Intel struggled to perform in the Chip And AI markets in recent years falling behind competitors and missing out on Peak demand opportunities The Fallout of which included loss of market share in the PC and data center spaces Mass layoffs and steep spending cuts Gil singer previously spent 30 years at Intel before departing and taking on sea-level positions at Dell Technologies and VMware where he served as chief executive officer for more than 8 years his 2021 return to Intel saw much anticipation around his plans to turn the chipmaker into a Foundry which garnered billions of dollars in support from the Biden Administration the Intel board of directors is currently conducting a search for Gil singer's replacement in the meantime they've appointed two senior leaders to temporarily fill the CEO position as a Duo David zinzer Executive Vice President and Chief Financial Officer and Michelle Johnston htus CEO of Intel products

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