Pat Gelsinger, CEO of Intel, has announced his retirement and resignation from the board of directors, effective December 1, 2024. In his place, two individuals will be appointed as co-CEOs: David Zinsner, Intel’s CFO, and Michelle (MJ) Johnston Holthaus, Head of Intel Products business. Additionally, Frank Yeary has been appointed as interim board chairman while the search for a new CEO is underway.
Gelsinger expressed his gratitude for the opportunity to lead Intel, considering it an honor in his career. He commended the teamwork and accomplishments of the past year, acknowledging the challenges faced in a rapidly changing market landscape.
Having joined Intel in 1979 as a quality control technician, Gelsinger has held various leadership roles within the company. He became Intel’s first CTO in 2001, later departing to work at EMC as COO in 2009. Subsequently, in 2012, he took on the role of CEO at VMware before eventually returning to Intel as CEO in 2021 amidst significant organizational changes at the company.
Gelsinger introduced the IDM 2.0 strategy at Intel to enhance chip manufacturing capabilities for external customers by separating chip production into distinct business units, with plans to potentially spin off these units into separate entities in the future. (However, Gelsinger exited his position before this could materialize.)
TLDR: Pat Gelsinger retires as CEO of Intel, appoints David Zinsner and Michelle Johnston Holthaus as co-CEOs, and reflects on his storied career with the company.
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