{"id":17593,"date":"2024-12-02T14:55:51","date_gmt":"2024-12-02T15:55:51","guid":{"rendered":"http:\/\/medexperts.pro\/?p=17593"},"modified":"2024-12-02T16:25:04","modified_gmt":"2024-12-02T16:25:04","slug":"intel-ceo-pat-gelsinger-steps-down-amid-chipmakers-struggles","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=17593","title":{"rendered":"Intel CEO Pat Gelsinger Steps Down Amid Chipmaker\u2019s Struggles"},"content":{"rendered":"
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Pat Gelsinger stepped down after nearly four years at the helm of the company, Intel said Monday.<\/p>\n

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Intel\u2019s chief executive officer, Pat Gelsinger, stepped down after nearly four years leading the semiconductor company, Intel announced Monday, a surprise leadership change as the chipmaker has struggled in recent months<\/a>.<\/p>\n

Mr. Gelsinger, who took the helm in 2021, also resigned from the company\u2019s board of directors. He will be replaced in the interim by two Intel executives, David Zinsner and Michelle Johnston Holthaus. The company said it would continue its search for permanent replacements.<\/p>\n

The leadership change signals Intel\u2019s growing urgency to turn around its business, which has been left in the dust during the lucrative artificial intelligence boom that has turned its rival chipmaker, Nvidia, into one of the world\u2019s most valuable companies<\/a>. Intel recently cut 15,000 jobs<\/a>, and its revenue declined more than 30 percent from 2021 through 2023.<\/p>\n

Shares of Intel rose about 5 percent in premarket trading, before paring back some of those gains, after the company announced Mr. Gelsinger\u2019s retirement. A loss in market share and struggles in the A.I. market have contributed to a 52 percent slump in the company\u2019s stock price so far this year.<\/p>\n<\/div>\n<\/div>\n

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\u201cWe have much more work to do at the company and are committed to restoring investor confidence,\u201d Frank Yeary, who will serve as the company\u2019s interim executive chair on the board, said in a statement.<\/p>\n

Mr. Gelsinger said in the statement that the move was bittersweet. \u201cIt has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics,\u201d he added.<\/p>\n

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Pat Gelsinger stepped down after nearly four years at the helm of the company, Intel said Monday.Intel\u2019s chief executive officer, Pat Gelsinger, stepped down after nearly four years leading the semiconductor company, Intel announced Monday, a surprise leadership change as the chipmaker has struggled in recent months.Mr. Gelsinger, who took the helm in 2021, also resigned from the company\u2019s board of directors. He will be replaced in the interim by two Intel executives, David Zinsner and Michelle Johnston Holthaus. The company said it would continue its search for permanent replacements.The leadership change signals Intel\u2019s growing urgency to turn around its business, which has been left in the dust during the lucrative artificial intelligence boom that has turned its rival chipmaker, Nvidia, into one of the world\u2019s most valuable companies. Intel recently cut 15,000 jobs, and its revenue declined more than 30 percent from 2021 through 2023.Shares of Intel rose about 5 percent in premarket trading, before paring back some of those gains, after the company announced Mr. Gelsinger\u2019s retirement. A loss in market share and struggles in the A.I. market have contributed to a 52 percent slump in the company\u2019s stock price so far this year.\u201cWe have much more work to do at the company and are committed to restoring investor confidence,\u201d Frank Yeary, who will serve as the company\u2019s interim executive chair on the board, said in a statement.Mr. Gelsinger said in the statement that the move was bittersweet. \u201cIt has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics,\u201d he added.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":17595,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/17593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17593"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/17593\/revisions"}],"predecessor-version":[{"id":17596,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/17593\/revisions\/17596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/17595"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}