In a blow to Intel‘s turnaround plans, CEO Pat Gelsinger has resigned from the big chip maker without a permanent successor in place.
Gelsinger spent more than 40 years at the company, rising through the ranks as an engineer. He seemed like the perfect CEO when he was appointed. But his tenure with marked with failed execution that he had vowed to fix. Intel’s stock was down 52% this year before the announcement. In trading today, Intel’s stock is up 3.31% to $24.84 a share.
Gelsinger is retiring effective immediately, and he will be replaced on an interim basis by David Zinsner and Michelle Johnston Holthaus as co-CEOs. Zinsner is the CFO of Intel, while Holthaus is the general manager of Intel’s client computing group.
Källa: Intel CEO Pat Gelsinger resigns without a permanent successor
