Intel names interim co-CEOs as Gelsinger steps down

Intel announced Monday that CEO Pat Gelsinger retired effectively the previous day.

The company has named CFO David Zinsner and executive Michelle Johnston Holthaus as interim co-chief executive officers.

The board is actively searching for a new CEO.

Following this news, Intel’s shares rose nearly 3% in premarket trading.

Recent Intel developments

Timeline
26-Nov-2024 💰 Intel nears $8b Chips Act grant amid financial woes Intel nearing $8B Chips Act grant finalization Follows $3B DoD contract for semiconductor production
29-Oct-2024 💼 Intel cuts Israeli jobs, ends free office perks Intel cuts free drinks in Israeli offices. 15,000 layoffs begin as part of restructuring.
29-Oct-2024 💡 Intel invests $300m in Chengdu chip packaging facility Intel invests $300M in Chengdu chip facility Move aims to boost capacity amid AI tech competition
17-Oct-2024 🔍 Intel faces security review in China Intel committed to product safety in China Chinese review may impact Intel’s sales significantly
17-Oct-2024 🔗 Intel, AMD join forces to improve software compatibility Intel and AMD collaborate on software compatibility Effort counters competitive threats from Arm Holdings

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