Intel announced on Monday that CEO Pat Gelsinger, 63, retired effective December 1. Gelsinger also stepped down from the board of directors on the same date. He had been with Intel for over three decades including four years as CEO.
The abrupt announcement further states that Intel’s Chief Financial Officer David Zinsner and Intel Products CEO Michelle Johnston Holthaus are in charge as interim co-CEOs while the company’s board searches for Gelsinger’s replacement. Frank Yeary, a longtime board member who joined in March 2009, is now the interim executive chair of the board.
According to Bloomberg, Gelsinger was forced out after the board lost confidence in his plans to improve Intel.
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