Intel CEO Pat Gelsinger says that he is retiring, effective immediately, from the company he helmed since February 2021. For the short term, Intel moved up Michelle Johnston Holthaus and David Zinsner to co-fill the role of CEO.
Holthaus is the head of the Client Computing Group at Intel. Holthaus was also recently appointed at CEO of Intel Products. Zinsner is Intel's chief financial officer.
Gelsinger was CEO during an extremely turbulent time at Intel. Though largely successful at the start, Intel has struggled over the past couple of years. Intel struggles are due in part to strong competition from AMD and ARM, lackluster entries into the GPU market, and severe issues impacting their 13th and 14th generation processors. In August 2024, Intel's growing financial woes resulted in the company laying off over 15,000 employees.
Leading Intel has been the honor of my lifetime—this group of people is among the best and the brightest in the business, and I’m honored to call each and every one a colleague. Today is, of course, bittersweet as this company has been my life for the bulk of my working career. I can look back with pride at all that we have accomplished together.
It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family.
It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family.
