SANTA CLARA, Calif. — In a significant leadership change, Intel Corporation has announced the retirement of its CEO, Pat Gelsinger, effective December 1, 2024. Gelsinger’s departure marks the end of a remarkable 40-plus year career at Intel, during which he made substantial contributions to the company and the technology sector as a whole.
Following Gelsinger’s retirement, Intel has appointed two senior executives, David Zinsner and Michelle Johnston Holthaus, as interim co-CEOs. Zinsner, who has been serving as the executive vice president and chief financial officer, will share the leadership role with Holthaus, who has also been appointed to a newly established position as CEO of Intel Products. This group encompasses several key divisions, including the Client Computing Group (CCG), the Data Center and AI Group (DCAI), and the Network and Edge Group (NEX).
In addition to the co-CEO appointments, Frank Yeary, the independent chair of Intel’s board, will take on the role of interim executive chair during this transitional period. The board of directors has already initiated the process of searching for a permanent successor to Gelsinger, forming a dedicated search committee to ensure a thorough and efficient selection process.
Yeary expressed gratitude for Gelsinger’s extensive service to Intel, stating, “On behalf of the board, I want to thank Pat for his many years of service and dedication to Intel across a long career in technology leadership.” He highlighted Gelsinger’s pivotal role in revitalizing Intel’s manufacturing processes and driving innovation within the company since his return in 2021.
During his tenure, Gelsinger focused on investing in state-of-the-art semiconductor manufacturing, which has been crucial for Intel’s competitiveness in the rapidly evolving technology landscape. Yeary acknowledged the progress made under Gelsinger’s leadership, particularly in enhancing manufacturing capabilities and positioning Intel as a world-class foundry. However, he also recognized that there is still much work to be done as the company continues to navigate challenges in the semiconductor industry.
Intel’s board is committed to maintaining stability during this transition, and the leadership structure of Intel Foundry will remain unchanged, ensuring continuity in operations and strategic initiatives. The company aims to uphold its momentum in innovation and manufacturing excellence as it embarks on this new chapter.
As Intel moves forward, the focus will remain on leveraging its technological strengths to meet the demands of a dynamic market while fostering a culture of innovation and excellence. The appointment of Zinsner and Holthaus as interim co-CEOs reflects the company’s commitment to leadership continuity and strategic direction as it seeks to identify a permanent CEO.
With the semiconductor industry facing increasing global competition and evolving technological demands, Intel’s leadership transition comes at a critical time. The company is poised to continue its legacy of innovation and operational excellence as it adapts to the changing landscape of technology.
This leadership change at Intel is set against the backdrop of a rapidly evolving technology sector, where companies are continually challenged to innovate and stay ahead of the competition. As the search for a new CEO unfolds, Intel’s interim leadership team will be tasked with guiding the company through this pivotal period while ensuring that it remains focused on its strategic goals and objectives.
Intel’s future will likely hinge on its ability to maintain its competitive edge and drive forward its initiatives in semiconductor manufacturing, AI, and data center technologies. As the company embarks on this new phase, stakeholders will be watching closely to see how the interim leadership team navigates the challenges ahead and positions Intel for continued success in the technology arena.
