As the venerable American chipmaker has found it difficult to stay up with the artificial intelligence revolution, Intel’s CEO is resigning.
The business declared With effect from December 1, Pat Gelsinger, who had been the company’s leader since 2021 and had served in a variety of capacities for the chipmaker for more than 30 years, had retired.
In a news release, Intel’s board chair Frank Yeary stated, “We know that we have much more work to do at the company and are committed to restoring investor confidence, even though we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry.”
Since Gelsinger came over, Intel’s stock has dropped 61%.
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