Taking everyone by surprise on the second day of December, Intel announced the retirement of Pat Gelsinger, CEO who dedicated several years of his life to the company and was responsible for important changes that led the company to what it is today. A new name for the CEO position has not yet been announced, but the news is effective immediately. Understand the reasons and effects of this event. 5j6dm
Timeline: The Legacy of Pat Gelsinger 4o712i
Starting his career in 1979, when he was just 18 years old, Pat Gelsinger, some time after ing Intel, was the company's first chief technology officer, working on several fronts.
The news from the CTO comes as a big surprise, as Gelsinger returned to Intel in 2021. After a 30-year career, he went to work at EMC, but returned to Intel to be CEO and has been in the role ever since. When he made this return, he was tasked with resolving a major internal crisis at the company that has continued to this day.
In 2022, Pat Gelsinger, in interview with the Decoder podcast do The Verge, highlighted that “we had to rebuild the internal culture and execution, but we also have to rebuild the trust of our customers".
The reason for Pat Gelsinger's retirement was not revealed, but it is likely that the current losses and the company's own internal crisis Intel have fallen on the shoulders of the now former CEO. Frank Yeary, who now serves as interim CEO, said Intel needs to regain the trust of its investors:
While we have made significant progress in restoring manufacturing competitiveness and building capabilities to become a world-class foundry, we know we have much more work to do across the business and are committed to restoring investor confidence. As a board, we know first and foremost that we must put our product portfolio at the heart of everything we do. Our customers demand this from us, and we will deliver.
Frank Yeary, Interim Chief Executive Officer of Intel
Pat Gelsinger says he is forever grateful for his work at Intel and mentioned that, despite having to make difficult decisions, he is proud of everything he has achieved with the company in these 40 years. Check it out:
Leading Intel has been the honor of a lifetime – this group of people are among the best and brightest in the industry, and I am honored to call each of them my colleague. I can look back with pride on all we have accomplished together. It has been a challenging year for all of us as we have made difficult but necessary decisions to position Intel for today’s market dynamics. I am forever grateful to the many colleagues around the world with whom I have worked as part of the Intel family.
Pat Gelsinger on his retirement from Intel.
Despite being a consolidated company in the market, Intel has been going through problems that have even made it think about selling one of its divisions. Intel Foundry, created to help American companies reduce their dependence on Asian manufacturers in the production of high-tech chips, has generated high costs: in the second quarter of 2024 alone, it recorded a loss of US$ 2,8 billion.
A Qualcomm e AMD They even thought about making an acquisition of Intel, but this was put aside due to lack of interest from both. On November 20 of this year, Cristiano Amon, CEO of Qualcomm, in an interview with Bloomberg, said the company“has not identified any major acquisitions that are necessary".
New names on the board 6s1n1f
In addition to stepping down as CEO, Pat Gelsinger is leaving Intel in general: he is also no longer on the company's board of directors. With that, David Zinsner e Michelle Johnston Holthaus become interim CEOs of the company until a new CEO is chosen.
David Zinsner has a 25-year career in finance and operations in the semiconductor, manufacturing, and technology industries. Prior to his move, he held the position of Chief Financial Officer. Zinsner ed Intel in 2022, having previously served as President and Chief Operating Officer of Affirmed Networks and Senior Vice President of Finance and CFO of Analog Devices.
Yes, Michelle Johnston Holthaus Michelle is a general manager and proven leader: She has been with Intel for nearly 30 years and currently serves as CEO of Intel Products. Prior to that, she was executive vice president and general manager of CCG. Michelle has held other leadership roles at Intel, including chief revenue officer and general manager of the Sales and Marketing Group.
Another change until Intel's new CEO is chosen involves the name of Frank Yeary: Previously the independent chairman of the board, he is now the interim executive chairman. No changes have been announced regarding Intel Foundry, but we will update this story with new information as it becomes available.
Who do you think should be the new CEO of Intel? Tell us in the comments Comment!
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With information: The Verge l Reuters l Intel Newsrooms
