Intel CEO Pat Gelsinger Retires Amid Stock Surge, Interim Leaders Named
TL;DR Summary
Intel CEO Pat Gelsinger has retired, effective December 1, after a challenging tenure marked by a significant drop in the company's stock price and market share. Intel's CFO David Zinsner and products CEO MJ Holthaus will serve as interim co-CEOs, while Frank Yeary will be the interim executive chair. Despite Gelsinger's ambitious plans to revitalize Intel, the company struggled against competitors like Nvidia and faced financial difficulties. Intel's stock rose 5% following the announcement of Gelsinger's departure.
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