this post was submitted on 02 Dec 2024
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Intel Announces Retirement of CEO Pat Gelsinger (www.intc.com)
submitted 1 day ago by farcaster to c/technology
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[โ€“] Buffalox 132 points 1 day ago* (last edited 1 day 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!?

[โ€“] mohammed_alibi 6 points 1 day ago (6 children)

Maybe Lisa Su goes to Intel ๐Ÿ™ƒ

[โ€“] Buffalox 2 points 23 hours ago (1 children)

IDK if that's meant as a joke, but I don't see a single reason why she would do that. She is doing very well at AMD, and the pay is better at AMD.

[โ€“] IndustryStandard 4 points 23 hours ago (2 children)

Intel is receiving massive subsidies. If you think about it it is miraculous they managed to lose so hard to AMD with all those subsidies.

[โ€“] Buffalox 4 points 22 hours ago

Absolutely, AMD was able to make Ryzen on the brink of bankruptcy, I fully expected Intel to make a comeback, with all the resources at their disposal.
But instead it's been a long string of failures and at most half successes since 2016.
I have a bit of AMD stock, but still I don't really want to see Intel fail.

[โ€“] [email protected] 1 points 19 hours ago

Aren't those subsidies for building new fabs? They aren't able to use those funds for general operations.

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