Intel

2024 - 12 - 3

Intel's Chief Takes a Leap: A Tale of Chips, Boards and Bittersweet Goodbyes!

business leadership - CEOs - chip market - Intel - Ireland - Pat Gelsinger - semiconductors

Pat Gelsinger is out at Intel! Did the board push him, or did he just want to retire in peace? Dive into the drama behind one of Ireland's biggest tech employers!

In a dramatic turn of events, Intel, a major player in Ireland’s tech landscape, has parted ways with its CEO, Pat Gelsinger. This unexpected decision came after a meeting where the board laid down the options: retire gracefully or be removed. Gelsinger chose the former, leaving many to speculate about the future of the company formerly known for its dominance in the semiconductor industry. With two co-CEOs stepping up to fill the leadership void, it feels a bit like watching a group of chip enthusiasts trying to solve a Sudoku puzzle—complicated and definitely not easy!

Gelsinger’s departure has sparked a wild debate among industry analysts. Some believe this shake-up could be a blessing in disguise, paving the way for Intel to re-evaluate its strategies, especially in the face of stiff competition from rivals like Nvidia. With the market reacting to this development, many investors are now crossing their fingers in hopes that Intel might unveil a plan that could pull it out of the red. It's reminiscent of trying to find the last piece of a jigsaw while realizing you might have actually lost it in the sofa cushions!

Despite being a veteran in the tech world, Gelsinger's tenure was filled with challenges—especially regarding market share and competition. His departure has left a cloud of uncertainty over Intel's turnaround strategy, raising questions about whether Intel's woes are too profound to remedy. It's like trying to unsink the Titanic after it’s already hit the iceberg; the time for revolution might just be too late.

As we bid adieu to Gelsinger, perhaps we should dwell on some light-hearted trivia! Did you know that back in the 90s, Intel ran a campaign promoting its processors with the slogan, "Intel Inside”? They've certainly been inside the hearts of tech aficionados ever since. Also, it might amuse you to learn that while some people are squeamish about CEO paychecks (Gelsinger received a jaw-dropping $178.5 million!), others argue that in the tech industry, that's just the cost of doing business in style! So here’s to Intel—may your chips find their perfect mix again!

Post cover
Image courtesy of "BreakingNews.ie"

Crisis at major Irish employer Intel after boss forced out by board (BreakingNews.ie)

The Intel board told Pat Gelsinger he could retire or be removed, and he chose to step down.

Post cover
Image courtesy of "Morningstar"

Intel: We Maintain Our Fair Value Estimate Amid CEO Pat ... (Morningstar)

We attribute the stock's rally to the market's greater optimism that Intel will be broken up and unlock shareholder value.

Post cover
Image courtesy of "Inc.com"

Intel Just Forced Out Its CEO. It's a Brutal Lesson Every Leader ... (Inc.com)

That was the promise when the company named him to the top job back in February of 2021. A respected CEO and former Intel engineer, Gelsinger checked all the ...

Post cover
Image courtesy of "EE Times"

Intel CEO's Departure Leaves Top U.S. Chipmaker Adrift (EE Times)

Intel CEO Pat Gelisnger stepped down with immediate effect, and the company is now searching for a new CEO, while two co-CEOs take charge.

Post cover
Image courtesy of "TechCentral"

Intel's options - TechCentral (TechCentral)

The abrupt departure of Intel CEO Pat Gelsinger offers a fresh opportunity for the troubled company.

Post cover
Image courtesy of "Profit by Pakistan Today"

Pat Gelsinger steps down as CEO of Intel Corporation - Profit by ... (Profit by Pakistan Today)

Gelsinger resigns after meeting with Intel's board about market share and competition with Nvidia.

Post cover
Image courtesy of "Capacity Media"

'Bittersweet' goodbye as Intel CEO Pat Gelsinger departs amidst ... (Capacity Media)

After a forty-year career at the forefront of the semiconductor space, it was a “bittersweet” end for Pat Gelsinger as he departed Intel this week.

Post cover
Image courtesy of "CTech"

Can Intel recover? Gelsinger's exit sparks speculation and uncertainty (CTech)

Pat Gelsinger, who received an astronomical compensation package of $178.5 million upon taking office in early 2021—most of it in shares—will not remain on the ...

Post cover
Image courtesy of "Yahoo Finance"

Intel CEO Gelsinger's removal raises doubts over turnaround plan (Yahoo Finance)

Intel CEO Pat Gelsinger's removal has put an abrupt end to his role in the struggling chipmaker's turnaround efforts, leaving Wall Street with doubts ...

Post cover
Image courtesy of "Livemint"

Are Intel's problems too big to fix? | Company Business News (Livemint)

Intel announced Monday that Gelsinger is retiring as chief executive and stepping down from the board of directors. The move had the tone of a peaceful ...

Gelsinger Out at Intel, What Happened, Ten Years Too Late (Stratechery by Ben Thompson)

Pat Gelsinger is out as Intel CEO. It seems likely that the board has cold feet about the foundry business, and a split may be forthcoming.

Post cover
Image courtesy of "RTE.ie"

Intel's ousted CEO Gelsinger to receive up to $12m payout (RTE.ie)

Intel former CEO Pat Gelsinger could get as much as $12m as payout, a regulatory filing showed today, following his departure from the struggling US ...

Post cover
Image courtesy of "The Irish Times"

Intel's CEO departure opens door to fresh deal discussions (The Irish Times)

Pat Gelsinger, who stepped down as CEO on Monday, was said to be against breaking up the chip giant.

Post cover
Image courtesy of "Yahoo Finance UK"

Exclusive-Intel's CEO-shortlist candidates include former board ... (Yahoo Finance UK)

Intel has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling ...

Post cover
Image courtesy of "Reuters"

Exclusive: Intel's CEO-shortlist candidates include former board ... (Reuters)

Intel has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling ...

Post cover
Image courtesy of "PRNewswire"

Intel's Real Threat: ARM? Per Liftr Insights data (PRNewswire)

PRNewswire/ -- Liftr Insights, a pioneer in market intelligence driven by unique data, revealed data providing a glimpse into the growth of ARM and its ...

Post cover
Image courtesy of "Barron's"

Intel's Big Bet That Sank the Stock and Its CEO (Barron's)

Intel CEO Pat Gelsinger's plan to supercharge chip production appears to have backfired dramatically. Analysts expect a shake-up to Intel's foundry business ...

Post cover
Image courtesy of "Investor's Business Daily"

Intel's Search For New CEO: What Investors Should Know (Investor's Business Daily)

Intel has begun a search for a new CEO following the sudden departure of Pat Gelsinger. Here are key issues Intel stock investors should know.

Post cover
Image courtesy of "TechCentral.ie"

Gelsinger exit exposes how far behind Intel has fallen in AI race ... (TechCentral.ie)

The departure of Pat Gelsinger, CEO at Intel, from the company in what can only be described as “a very sudden retirement” appears to signal the end of an ...

Post cover
Image courtesy of "Club386"

Intel Arc B580 could be the graphics card we've been waiting for ... (Club386)

Intel has finally pulled back the veil on its Arc B Series graphics cards, with B580 arriving in just a few weeks.

Post cover
Image courtesy of "IGN Nordic"

Intel Announces Next-Gen B580 and B570 Graphic Cards for ... (IGN Nordic)

The Intel Arc B580 and B570 aim for 1080p gaming with some light ray tracing for good measure.

Post cover
Image courtesy of "DatacenterDynamics"

Intel handed Pat Gelsinger an impossible job (DatacenterDynamics)

Matthew Gooding is features editor at Data Center Dynamics. He was formerly managing editor of Tech Monitor and business editor of Cambridge News.

Post cover
Image courtesy of "Yahoo Finance"

Intel Considers Outsiders for CEO, Including Marvell's Head (Yahoo Finance)

(Bloomberg) -- Intel Corp.'s search for a new chief executive officer will focus heavily on outsiders, with the chipmaker considering candidates such as ...

Post cover
Image courtesy of "CNBC"

Intel shares slide as Gelsinger exit leaves chipmaker without a 'quick ... (CNBC)

Intel shares fell more than 5% on Tuesday, a day after the chipmaker announced the ouster of CEO Pat Gelsinger.

Post cover
Image courtesy of "CNNMoney"

Ousted Intel CEO Pat Gelsinger is leaving the company with millions (CNNMoney)

Pat Gelsinger, CEO of Intel, arrives onstage for a keynote conversation during CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, ...

Post cover
Image courtesy of "Yahoo Movies"

Why Intel Stock Is Sinking Today (Yahoo Movies)

Intel (NASDAQ: INTC) stock is losing ground in Tuesday's trading. The semiconductor company's share price was down 5.8% as of 2 p.m. ET.

Post cover
Image courtesy of "CFO Dive"

Intel CFO takes interim co-CEO role after board ousts top exec (CFO Dive)

CFO David Zinsner will step in as interim co-CEO as Intel races to regain lost ground in the GenAI race after reporting a record loss of $16.6 billion for ...

Post cover
Image courtesy of "Yahoo Finance"

Analysts reset Intel stock forecasts after CEO exits (Yahoo Finance)

It was a sign of the times. On Nov. 1 S&P Global said that AI-chip heavyweight Nvidia (NVDA) would replace Intel (INTC) in the Dow Jones Industrial Average ...

Intel Corporation to Participate in Upcoming Investor Conferences (Investor Relations :: Intel Corporation (INTC))

PST, Zinsner and Michelle Johnston Holthaus, interim co-chief executive officer and CEO of Intel Products, will participate in a fireside chat on Intel's ...

Explore the last week