Intel CEO suddenly announces retirement

Intel CEO Pat Gelsinger announced his retirement just a week after the US decided to award the company $7.86 billion in funding under the CHIPS and Science Act.

Intel also announced two interim CEOs while the board searches for a replacement for Pat Gelsinger: David Zinsner, Intel's chief financial officer and executive vice president, and Michelle Johnston Holthaus, CEO of Intel Products.

Intel CEO Pat Gelsinger to retire from December 1

Pat Gelsinger has led Intel since 2021, but the chipmaker has been in a steady decline. The company has failed not only in its core business but also in the AI ​​market. The US chipmaker's stock has lost 52% of its value this year.

In September, Intel announced plans to spin off its foundry business into a standalone company to raise more outside capital. In August, the company reported disappointing quarterly results, leading to its worst sell-off in 50 years.

Intel announced it would cut more than 15% of its workforce as part of a cost-saving plan. In late September, media reported that Qualcomm was considering buying Intel.

Source: https://baoquocte.vn/ceo-intel-bat-ngo-thong-bao-nghi-huu-296048.html