Intel has declared that Pat Gelsinger, the company’s CEO, has retired with effect from December 1 and has resigned from the company’s board of directors
David Zinsner and Michelle Johnston Holthaus, Intel executives, have been appointed as interim co-CEOs.
Holthaus has been appointed as the CEO of Intel Products, a newly established position that encompasses the company’s client computing, data center, and AI groups, as well as its network and periphery group. Zinsner serves as Intel’s CFO.
Frank Yeary, Intel’s independent chair of the board, will serve as interim executive chair during the transition.
Intel has stated that the leadership structure at Intel Foundry, its chip design and fabrication division, remains unaltered. Additionally, the Intel board has established a search committee to identify a permanent successor to Gelsinger.
“Leading Intel has been the honor of my lifetime — this group of people is among the best and the brightest in the business, and I’m honored to call each and every one a colleague,” Gelsinger said in a statement. “Today is, of course, 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. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family.”