Intel Monday announced CEO Pat Gelsinger has resigned after a difficult three-year stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed ... Effective Dec. 1, 2024, Intel Corporation CEO Pat Gelsinger has retired from the company and stepped down from the board of directors. (Credit: Intel Corporation) Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO . Gelsinger , who joined Intel as a teenager in 1979, stepped down as CEO and left the board on Dec. 1, 2024. He faced plunging profits, a lack of A.I. leadership and activist pressure as Intel lagged behind rivals like Nvidia and TSMC. Intel fired Pat Gelsinger after a contentious board meeting over his failure to respond to Nvidia's competitive edge and his lack of confidence in his turnaround plans. The company has been mired in an extended slump due to market share losses and a lack of AI market presence.
