Intel CEO Gelsinger retires; Zinsner and Johnston Holthaus named interim co-CEOs
Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday in a surprise announcement. Two company executives, David Zinsner and Michelle Johnston Holthaus, will act as interim co-CEOs while the company searches for a replacement for Gelsinger, who also stepped down from the company's board.
Intel will pay $7M in severance to former CEO Pat Gelsinger, plus millions more in bonuses
Intel’s hiring agreement with Gelsinger promised him a severance payment of 18 months of his salary and his annual target bonus if he resigned “for good reason.” In a regulatory filing Tuesday, Intel said that it had agreed to pay him that in connection with his retirement.
Intel’s CFO has a tough new job: Serve as interim co-CEO to keep its finances from further ‘deteriorating’
Gelsinger, CEO since 2021, had a 40-plus-year career at Intel. He was betting the company on 18A, a new chipmaking process hoping it would be a viable alternative to Taiwan Semiconductor Manufacturing Co., (TSMC) the world’s leading contract manufacturer of chips, Fortune ’s Jeremy Kahn recently reported.
Intel reveals Gelsinger severance
Gelsinger's severance is in line with the terms of his CEO employment agreement with Intel "in the event Mr. Gelsinger's employment is terminated by Intel without 'Cause' or he voluntarily resigns for Good Reason." It starts with a payment of 18 months of his annual base salary of $1.25 million, yielding nearly $1.9 million.
Intel's ousted CEO may get more than $10 million in severance
Outgoing Intel CEO Pat Gelsinger is set to get paid as much as $10 million as he exits the struggling tech giant.
Intel CEO Pat Gelsinger retires as struggling chipmaker searches for replacement
Gelsinger, whose career has spanned more than 40 years, also stepped down from the company's board, effective Dec. 1, 2024. He started at Intel in 1979 at Intel and was its first chief technology officer. He returned to Intel as chief executive in 2021.
Intel CEO Pat Gelsinger Retires Amid Financial Struggles, Comeback Plan
Intel CEO Pat Gelsinger has unexpectedly retired as the chipmaker attempts to bounce back from financial struggles and execute on his ambitious comeback plan.
Cashing in his chips: Intel CEO retires after 'challenging year' for Silicon Valley tech titan
Intel CEO Pat Gelsinger has retired from the Silicon Valley-based tech giant and effectively stepped down from its board of directors on Sunday. Intel announced that executive vice president and chief financial officer David Zinsner and Intel Products CEO Michelle Johnston Holthaus were named as interim co-chief executive officers as the board of directors look
Intel CEO Pat Gelsinger announces immediate retirement; 2 interim co-CEOs named
Shake up in Silicon Valley. Intel CEO Pat Gelsinger announces immediate retirement with the company naming two interim co-CEOs to lead the chipmaker. He started at Intel in 1979 and was its first chief technology officer.
Intel’s ex-CEO Pat Gelsinger set to net $10M in severance pay
Intel's newly departed ex-CEO Pat Gelsinger could be walking away with more than $10 million in severance pay.
Pat Gelsinger retires as CEO of Intel after poor company performance
Pat Gelsinger retires as Intel’s CEO David Zinsner and Michelle Johnston Holthaus appointed interim co-CEOs Intel’s most recent quarterly revenue had dropped 6% as it undergoes restructuring efforts After a near four-year stint as CEO of Intel,
Intel CEO Pat Gelsinger retires; Zinsner and Johnston Holthaus named interim co-CEOs
Zinsner is executive vice president and chief financial officer at Intel. Holthaus was appointed to the newly created ...
In an all-hands meeting, Intel's new leaders emphasized outgoing CEO Pat Gelsinger's 'personal decision'
On Monday, Intel's interim leadership addressed outgoing CEO Pat Gelsinger's abrupt departure, in an internal meeting.