Intel CEO Pat Gelsinger announces abrupt retirement
Intel CEO Patrick Gelsinger has announced his abrupt retirement via a press release. While a direct successor has not been announced yet, the company will be spearheaded, in interim, by David Zinsner and Michelle (MJ) Johnston Holthaus. The board is expected to reach a consensus on a new Intel CEO soon. Of course, the juicy details about why Intel decided to change CEOs at such a pivotal moment remain a mystery.
Granted, Intel wasn't doing too well with a string of failures such as lacklustre demand for Intel Foundry nodes, poor reception for Arrow Lake, being forced to use TSMC's cutting-edge offerings instead of its own, a less-than-stellar financial quarter followed by mass lay-offs, and a supposed fallout with Sony over manufacturing chips for the PlayStation 6.
The press release states Intel Foundry's leadership structure will remain unchanged. Whether the new CEO will spin it off into a new business remains uncertain. Regardless, the next few weeks, and the choice of CEO, will determine what Intel's future will look like. Despite its woes, it won't go down easily as Intel is a testament of the United State's chipmaking prowess.
Additionally, there have been hushed murmurs about Intel's potential merger with arch-rival AMD, Marvell semiconductors, Qualcomm, Samsung and even Apple. They might not happen in the immediate future, but cannot be ruled out of Intel continues to underperform.
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