Intel Corporation (NASDAQ: INTC) announced that CEO Pat Gelsinger has retired after an illustrious 40-year career, effective December 1, 2024. Gelsinger also stepped down from the board of directors.
David Zinsner and Michelle (MJ) Johnston Holthaus have been appointed as interim co-chief executive officers while the board searches for a permanent CEO. Holthaus will also serve as the CEO of the newly formed Intel Products, which includes the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX). Frank Yeary, the independent chair of Intel’s board, will become interim executive chair during this transition period. The Intel Foundry leadership will remain unchanged.
The board has created a search committee to diligently find a permanent successor to Gelsinger.
Yeary praised Gelsinger for his dedication and leadership, especially for revitalizing semiconductor manufacturing and fostering innovation at Intel. While Intel has made strides in regaining manufacturing competitiveness, Yeary emphasized the need to continue efforts to restore investor confidence and focus on product leadership.
Gelsinger reflected on his tenure at Intel, expressing gratitude for his colleagues and pride in their collective achievements. He acknowledged the challenging year but highlighted the strategic decisions made to position Intel for future success.
Zinsner and Holthaus both expressed their commitment to Intel’s mission and customer needs, emphasizing the importance of product and process leadership to drive returns on foundry investments.
Zinsner brings over 25 years of experience in semiconductors and technology, having joined Intel from Micron Technology Inc. Holthaus has been with Intel for nearly three decades, previously serving as executive vice president and general manager of the CCG.
About Intel
Intel (Nasdaq: INTC) is a leader in creating technology that drives global progress and enriches lives. Inspired by Moore’s Law, Intel continues to advance semiconductor design and manufacturing, embedding intelligence in various computing devices to transform business and society. Learn more about Intel’s innovations at newsroom.intel.com and intel.com.
