Gelsinger spent most of his career at Intel, rising to chief technology officer before leaving to run VMWare in 2012 and then returning as CEO in 2021. He was generally well respected by Wall Street and industry insiders, but on his watch, the stock underperformed the market as Intel lost ground in the AI race to Nvidia.

Shake up in Silicon Valley. Intel CEO Pat Gelsinger announces immediate retirement with the company naming two interim co-CEOs to lead the chipmaker. He started at Intel in 1979 and was its first chief technology officer.

Intel Corp. announced that CEO Pat Gelsinger has retired from the company and stepped down from the board of directors, effective Dec. 1, 2024.

Zinsner is executive vice president and chief financial officer at Intel. Holthaus was appointed to the newly created position of CEO of Intel Products, which includes the client

Intel Chief Executive Pat Gelsinger retired abruptly, ending a nearly four-year run that saw the chip maker fall behind rivals in building semiconductors to power the artificial-intelligence boom. The company on Monday said it named Chief Financial Officer David Zinsner and Michelle Johnston Holthaus,

Key Takeaways Intel shares finished lower following the announcement that CEO Pat Gelsinger has retired, effective yesterday.The chipmaker announced a pair of interim co-CEOs as its search for a permanent replacement is underway.

Intel has had a rough few years. As the artificial intelligence boom has sent demand soaring for the most powerful chips, lining the pockets of Nvidia and AMD in the process, Intel has trailed behind in a distant third place.

Intel CEO Pat Gelsinger has stepped down after a three-year stint leading the company, the chipmaker announced Monday.