Mon Dec 02 15:22:50 UTC 2024: ## Intel CEO Pat Gelsinger Retires, Interim Leadership Appointed

**SANTA CLARA, Calif. (December 2, 2024)** – Intel Corporation announced today that CEO Pat Gelsinger retired from the company, effective December 1st, after a 40-year career. He also stepped down from the board of directors.

To ensure a smooth transition, the company has appointed David Zinsner, executive vice president and chief financial officer, and Michelle Johnston Holthaus, newly appointed CEO of Intel Products, as interim co-CEOs. Frank Yeary, independent chair of Intel’s board, will serve as interim executive chair.

Holthaus’s new role as CEO of Intel Products encompasses the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX). The board has formed a search committee to find a permanent CEO successor.

Interim Executive Chair Yeary emphasized the importance of prioritizing the product group and regaining investor confidence, highlighting the need to continue improving manufacturing and foundry capabilities while streamlining operations. He praised Gelsinger’s contributions, particularly in revitalizing manufacturing and driving innovation.

Gelsinger expressed gratitude for his time at Intel, acknowledging the challenges faced in recent years and the progress made in positioning the company for the future. Both Zinsner and Holthaus stated their commitment to meeting customer needs and driving returns on foundry investments.

The announcement comes as Intel continues to focus on simplifying its product portfolio, advancing manufacturing technology, and improving profitability.

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