Intel announced on Monday the immediate resignation of Pat Gelsinger, who has been at the helm since 2021. This news comes as the American processor giant faces ongoing crises that have plagued it for months.
A veteran of Intel and the architect behind some of the company's significant achievements, Gelsinger's departure from the CEO position is effective immediately. Following the announcement, it was revealed that he also vacates his seat on the board of directors, with David Zinsner and Michelle Johnston Holthaus appointed as interim co-leaders of the company.
Gelsinger's resignation comes less than four years into his tenure, during which he attempted to revitalize Intel amid increasing competition from companies like AMD, Apple, and Qualcomm. Despite efforts to expand its foundry services and enhance domestic chip production, Intel has faced severe challenges, including stability issues with desktop processors and a lack of vision in the dynamic AI sector, resulting in significant stock losses over the past year.
