True to the saying, “When you leave, leave completely,” Gelsinger’s departure marks the end of his leadership role at the company.
Until a new CEO is appointed, Intel’s operations will be managed by a temporary leadership team:

  • David Zinsner, Vice President and Chief Financial Officer.
  • Michelle Johnston Holthaus, Head of Intel Products.
    Additionally, Frank Yeary, the independent chairman of the board, will serve as interim executive chairman.
Gelsinger’s Return and Challenges:
Gelsinger rejoined Intel as CEO in 2021, tasked with revitalizing the company and competing with AMD’s CEO Lisa Su, whose technical expertise had propelled AMD to impressive heights. However, his tenure saw Intel face significant challenges, including losing its leadership position in the processor race—a misstep some analysts have referred to as a “50-year mistake.”

Market Reaction:
Following the news, Intel’s stock rose by 3% during the opening of trading on December 2, signaling a cautious optimism from investors despite the company’s ongoing challenges.

Looking Ahead:
Intel now faces the critical task of finding a new CEO to steer the company back to prominence. Best wishes go to Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, and Frank Yeary in their respective new roles, and to Intel as it navigates this pivotal transition.