Pat Gelsinger was reportedly faced with a choice by the company’s board: retire or be removed.
Pat Gelsinger has officially stepped down as Intel’s CEO, effective December 1, after nearly four years at the helm. The 63-year-old reportedly faced a decision from the company’s board: step down voluntarily or be removed. After much thought, he opted to retire.
In a heartfelt LinkedIn post, Gelsinger reflected on his journey: “Leading Intel has truly been the honor of my lifetime. I’m deeply grateful to the incredible colleagues around the world who have been part of this journey with me. Together, we’ve achieved so much, and I’ll always look back on these accomplishments with pride. Thank you for everything!”
His message resonated with many, marking the end of a chapter filled with both challenges and achievements.
Pat Gelsinger described his departure from Intel as a “bittersweet” moment, reflecting on the company’s profound impact on his career. “Intel has been my life for the majority of my working years,” he shared in a company statement. “I’m proud of everything we’ve accomplished together.”
During his tenure, Gelsinger emphasized making tough but necessary decisions to prepare Intel for an evolving and competitive semiconductor market. He expressed heartfelt gratitude to his colleagues worldwide, acknowledging their collective efforts as part of the Intel family.
To guide the company through this transition, Intel’s board of directors appointed two senior leaders, David Zinsner and Michelle Johnston Holthaus, as interim co-CEOs while the search for a permanent successor is underway. Zinsner, the company’s CFO, and Holthaus, CEO of Intel Products, will share leadership responsibilities. Additionally, Frank Yeary, Intel’s independent board chair, has stepped in as interim executive chair.
Yeary commended Gelsinger for his dedication and contributions to Intel, highlighting his investments in advanced semiconductor manufacturing and his efforts to drive innovation.
Gelsinger’s association with Intel spans decades. He first joined the company in 1979, eventually becoming its first Chief Technology Officer. In 2021, he returned as CEO during a pivotal moment for the company, tasked with revitalizing its market position.
However, reports suggest his departure stemmed from a loss of confidence by the board in his strategies to regain market share, particularly in competition with Nvidia. Bloomberg revealed that tensions culminated during a meeting where Gelsinger was given the option to retire or face removal.
Gelsinger’s resignation comes at a challenging time for Intel as it navigates rapid shifts in the semiconductor industry. Despite these hurdles, his leadership was defined by a commitment to innovation and his ability to unite the company around critical strategic goals. His legacy remains tied to his vision of restoring Intel’s prominence in the global chip market.
