Intel CEO Pat Gelsinger Retires, Impacting Foundry Strategy

Intel CEO Pat Gelsinger has resigned, effective December 1, 2024, leaving the company's foundry strategy in uncertainty. Interim co-CEOs David Zinsner and Michelle Johnston Holthaus have been appointed, with Holthaus also becoming CEO of Intel Products. Despite Gelsinger's departure, Intel's Foundry leadership remains unchanged. The company has secured $7.86 billion in CHIPS Act grants for expansion, while its shares rose 4% in pre-market trading, reflecting mixed sentiments about Gelsinger's tenure.