Intel CEO Pat Gelsinger Departs Following Board Pressure

Gelsinger's exit ends a tumultuous tenure marked by financial losses, missed AI opportunities, and a challenging turnaround strategy.

Pat Gelsinger will receive a severance package valued at up to $10.18 million after resigning as Intel's CEO, a move reportedly prompted by the board's loss of confidence in his leadership.
Gelsinger's tenure saw Intel's stock fall by over 50% in 2024 and a $16.6 billion loss in its most recent quarter, the largest in the company’s history.
Intel struggled to compete in the AI chip market, losing ground to Nvidia and AMD, while its ambitious foundry strategy drew criticism for high costs and limited results.
Analysts speculate that Gelsinger's departure could increase the likelihood of Intel separating its chip design and manufacturing businesses, though such a move faces significant regulatory and strategic hurdles.
Intel has appointed David Zinsner and Michelle Johnston Holthaus as interim co-CEOs while the search for a permanent successor is underway.