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Intel CEO Pat Gelsinger Steps Down Amid Board Pressure

  • Writer: By The Financial District
    By The Financial District
  • Dec 4, 2024
  • 1 min read

Intel CEO Pat Gelsinger has resigned less than four years after taking the helm, following a board decision to replace him amid concerns about the company’s slow turnaround, Reuters reported.


Under Gelsinger’s tenure, Intel lost further ground to competitors like Taiwan Semiconductor Manufacturing Co. (TSMC) and Nvidia. I Photo: Intel Corporation



The board determined Gelsinger’s ambitious roadmap to restore Intel’s leadership in semiconductor manufacturing was not yielding sufficient progress. Gelsinger was given the option to retire or be removed and chose to step down.


Two interim co-CEOs have been appointed as the company searches for a permanent successor.



Under Gelsinger’s tenure, Intel lost further ground to competitors like Taiwan Semiconductor Manufacturing Co. (TSMC) and Nvidia, which now commands over 30 times Intel’s market value.


Despite high hopes for revitalizing AI and manufacturing capabilities, Intel struggled to deliver on its commitments, Reuters reported.




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