Intel’s CEO is out after only three years
Intel CEO Pat Gelsinger has retired after over four decades at the company and stepped down from the board of directors effective December 1st, 2024. A report from Bloomberg says that after meeting with the board to discuss Intel’s progress in catching up with Nvidia and regaining lost market share, Gelsinger “was given the option to retire or be removed, and chose to announce the end of his career at Intel.”
Gelsinger rejoined Intel as CEO in February 2021, taking over from Bob Swan to turn around the already struggling chipmaker — an effort that hasn’t gone as planned. It’s largely missed out on the AI chip boom that fueled Nvidia’s rise, failed to launch new technology on schedule, struggled with recent CPU instability issues, and was...