Pat Gelsinger, the CEO of Intel Corporation, has announced his resignation, effective immediately, as part of a broader company restructuring aimed at addressing competitive pressures and operational inefficiencies. The announcement was made in a joint statement by Gelsinger and Intel’s Board of Directors on December 2, 2024. Gelsinger, who took the helm of Intel in February 2021, cited personal reasons for his departure. “I am proud of what we’ve achieved during my tenure, and I’m deeply grateful to the incredible team at Intel. However, it’s time for me to step back and allow a new leader to guide Intel through its next chapter,” said Gelsinger in the statement. Under his leadership, Intel has made significant strides in technology advancements and product innovation, but the company has faced challenges in keeping pace with competitors like AMD and NVIDIA. Intel’s Board is currently in the process of evaluating candidates to fill this critical position and will provide updates in the weeks ahead. This transition comes as Intel launches its new ‘IDM 2.0’ strategy, focusing on enhancing its manufacturing capabilities and strengthening its position in the semiconductor market.
Intel CEO Pat Gelsinger Resigns Amidst Company Restructuring
