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Intel has announced its two senior leaders, David Zinsner and Michelle Johnton Holthaus, as interim co-CEOs.
Intel CEO Pat Gelsinger.
Intel Corporation on Monday said its CEO Pat Gelsinger has retired from the company. Gelsinger, whose retirement comes after over 40 years of career, has also stepped down from the board of directors, effective December 1, 2024. The struggling chipmaker has announced its two senior leaders, David Zinsner and Michelle Johnton Holthaus, as interim co-CEOs.
Frank Yeary, independent chair of the board of Intel, will become interim executive chair during the period of transition, Intel said in a statement.
“Intel Foundry leadership structure remains unchanged,” the company said.
Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group (CCG), Data Center and AI Group (DCAI) and Network and Edge Group (NEX).
In the statement, Gilsinger said, “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. 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.”
Gelsinger, 63, has held various roles at Intel thoughout his career, he has driven significant innovation and advanced not only the business but the broader global technology industry. A highly respected leader and skilled technologist, he has played an instrumental role in focusing on innovation while also creating a sense of urgency throughout the organization. Gelsinger began his career in 1979 at Intel, growing at the company to eventually become its first chief technology officer.