Intel CEO Quits And Leaves The Company In Turmoil

Expert Verified By

Two Interim Co-CEOs Have Been Appointed!

Story Highlight
  • Intel laid off 15k employees due to its rough financial condition.
  • The company has been facing a lot of troubles, and during them, its CEO has resigned. 
  • Now, the company has hired two interim co-CEOs, and the board of directors will conduct a search for a new CEO.

Intel has been in a pretty rough condition recently. There have been many rumors about the acquisition, and the company even laid off a lot of its employees to cover for the losses. More changes in the company that could negatively affect it would be too deadly now. 

However, Intel’s CEO just recently quit, and now the company has lost one of its most important assets amid so many troubles. 

Why it matters: Intel laid off 15k employees due to the losses it was facing, and it just might not be able to survive this massive blow. 

Intel Brings Back Free Coffee
The Tech Giant Brought Back Free Coffee To Boost Employee’s Morale

The company just recently announced that Pat Gelsinger has resigned effective 1st December

CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024.

While it is not ideal for the company, Intel has now announced two interim co-CEOs, David Zinser and Michelle Johnston Holthaus. The Foundry leadership structure remains the same, but Michelle Johnston Holthaus has been appointed for the newly created position of CEO of Intel products. 

Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. 

Zinser will act as the executive vice president and chief financial officer, while, as said before, Holthaus will focus on the company’s products. While these both have been given major roles the board of directors will conduct a search for a new CEO.

Ryzen 7 9800X3D box side
AMD Is Completely Dominating The Market With Newly Launched CPUs

This is a new hurdle for the company, and hopefully, it will manage to rise. The recent buyout rumors have also been dialled down, but AMD’s dominance is not stopping. The tech giant has already claimed nearly 30% of the desktop CPU market.  

What do you think of the CEO retiring so suddenly? Do you think the blue team has any chance of making a comeback now? Share your thoughts with us in the comments section below.

Was our article helpful? 👨‍💻

Thank you! Please share your positive feedback. 🔋

How could we improve this post? Please Help us. 😔

Gear Up For Latest News

Get exclusive gaming & tech news before it drops. Sign up today!

Join Our Community

Still having issues? Join the Tech4Gamers Forum for expert help and community support!

Latest News

Join Our Community

104,000FansLike
32,122FollowersFollow

Trending

Monster Hunter Wilds Becomes 3rd Best-Seller on Steam Almost 2 Months Before Launch

Monster Hunter Wilds just became the third best seller on Steam when there are still around two months until its launch.

Assassin’s Creed Shadows To Mark New Era For The Franchise, Says Ubisoft Dev

A Ubisoft developer has recently shared his excitement for Assassin's Creed Shadows, noting that it will kick off a new era for the IP.

Bloodborne Now Playable At Stable 30FPS On Steam Deck With ShadPS4

Bloodborne is now finally playable on the Steam Deck with an impressive stable 30 FPS using the ShadPS4 emulator.

Nintendo Will Continue With Its Exclusive Strategy Unlike PS & Xbox, Reveals Insider

A reputable insider has recently revealed his predictions for 2025, claiming that Nintendo will continue to focus on its exclusive strategy.

GTA 6 To Be Delayed To 2026, Senior Journalist Sounds the Alarm

Famous journalist, Jason Schreier has claimed that GTA 6 could be delayed to 2026 from its previous projected 2025 release window.