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Intel CEO Pat Gelsinger steps down from struggling chipmaker (www.reuters.com)

submitted 2 weeks ago* (last edited 2 weeks ago) by [email protected] to c/[email protected]

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Dec 2 (Reuters) - Intel (INTC.O) Chief Executive Pat Gelsinger has stepped down less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement. Gelsinger, who resigned on Dec. 1, left the company before the completion of an ambitious and costly four-year plan to restore the company's lead in making the fastest and smallest computer chips, a crown it lost to Taiwan Semiconductor Manufacturing Co (2330.TW) which makes chips for Intel rivals such as Nvidia (NVDA.O) While Gelsinger has assured both investors and U.S. officials, who are subsidizing Intel's turnaround, that his manufacturing plans remain on track, the full results will not be known until next year, when the company aims to bring a flagship laptop chip back into its own factories.

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[–] yesman 22 points 2 weeks ago* (last edited 2 weeks ago)

New CEO --> layoffs ----> line go up ----> ops, not genius after all ----> deploy golden parachute.

[–] comador 16 points 2 weeks ago (1 children)

Failed to innovate while riding the gravy train too long, lack of compensation in the face of rising costs, manufacturing issues, defective CPUs and nothing competitive. Yup, time to retire lol

[–] [email protected] 5 points 2 weeks ago (1 children)

He almost innovated but then he fired Jim Keller because he was afraid Jim was going to taker jawwbs

[–] vikingtons 4 points 2 weeks ago

is there an article related to this?

[–] [email protected] 8 points 2 weeks ago

Fun fact. An average tenure for a CEO is 4 years. I will not be taking further questions.

[–] [email protected] 2 points 2 weeks ago

Isn't he from VMware?

[–] [email protected] 2 points 2 weeks ago

Maybe Intel will survive now

[–] [email protected] 1 points 2 weeks ago (1 children)

Intel should have pulled it's 13/14 Gen chips the moment it became clear they had serious problems. Admit you screwed up and fix it.

Continuing to sell something you know is crap is a long-term reputation hit you are NOT going to recover from.

[–] Daughter3546 4 points 2 weeks ago* (last edited 2 weeks ago)

This is not due to the 13/14th generation CPU recall, rather Intel as a whole is floundering.

They missed the entire AI gravy train, losing market share to AMD, lost Apples business, etcetera. Intels foundry requires a lot of capital for both RnD and to keep the fabs running. They are losing market share and they have higher cost business compared to their competitors.

[–] AnUnusualRelic 1 points 2 weeks ago

"My job here is done."