Intel CEO Pat Gelsinger breaks silence after being forced out the company board | Trending
Dec 03, 2024 12:14 PM Pat Gelsinger started at Intel in 1979 and was its first chief technology officer. He returned to the company as chief executive in 2021. Pat Gelsinger, CEO of Intel, has been forced out of the chipmaking giant less than four years after taking the top job at the company. The Intel board told Gelsinger he could retire or be removed, and he chose to step down, news agency Reuters reported, quoting sources. Gelsinger reporedly resigned on December 1. Pat Gelsinger resigned as the CEO of Intel on December 1. (Reuters) Gelsinger, 63, said his exit was “bittersweet as this company has been my life for the bulk of my working career”. “I can look back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics,” he said in a statement. Gelsinger also took to LinkedIn on Monday to issue his first public reaction since his abrupt exit. “Leading Intel Corporation has been the honor of my lifetime. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family and can look back with pride at all that we have accomplished together. Thank you all!,” he wrote on LinkedIn. What happened at the Intel board meeting?At the meeting last week, the Intel board of directors made the hard talk to Gelsinger, telling him how they felt that his costly and ambitious plan to turn Intel around was not working and the progress of change was not fast enough, Reuters reported, citing a person familiar with the matter. Intel names two interim co-CEOsPat Gelsinger hands control to two lieutenants, David Zinsner and Michelle Johnston Holthaus,, as the faltering American chipmaking icon searches for a permanent replacement. (With inputs from Reuters and AP) Get Latest Updates on… See more News / Trending / Intel CEO Pat Gelsinger breaks silence after being forced out the company board
