this post was submitted on 02 Dec 2024
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Intel Announces Retirement of CEO Pat Gelsinger (www.intc.com)
submitted 3 months ago by farcaster to c/technology
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[–] Buffalox 132 points 3 months ago* (last edited 3 months ago) (26 children)

CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024.

and

The board has formed a search committee and will work diligently and expeditiously to find a permanent successor to Gelsinger.

Wow, this is a really bad look for Intel. Gelsinger stepping down without Intel having a replacement! I always wonder when it doesn't say why a CEO is stepping down suddenly without warning.

It's notable that the announcement says nothing about Gelsinger having finished the part of the task he started on. It looks like they've lost confidence in Gelsinger (speculation). If that's true, it also means they've probably lost confidence in the entire rescue plan he started on?

This is a huge bombshell, and not very elegantly executed IMO. Not just effective immediately, but effective YESTERDAY!?

[–] renrenPDX 1 points 3 months ago (1 children)

Pat came back to intel to help turn them around. I doubt he was planning to stay there.

[–] Buffalox 6 points 3 months ago

I am pretty sure the plan wasn't to quit at 63, at what looks like halfway through his plan.

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