San Francisco, December 2 (Xinhua) -- American chip manufacturer Intel announced on the 2nd that its CEO Pat Gelsinger retired on December 1 and resigned from the board of directors.
Gersinger first joined Intel in 1979 and served as its first Chief Technology Officer. In 2021, he became the CEO of Intel.
Intel announced that its board of directors will be searching for a successor. Prior to the appointment of the new CEO, David Zinsner and Michelle Johnston Holthaus will serve as interim joint CEOs.
Frank Yeri, the independent chairman of Intel's board of directors, will serve as interim executive chairman during the transition period. He stated in the statement that although the company has made progress in restoring competitiveness, there is still much work to be done urgently.
In August of this year, Intel announced a 15% layoff and will temporarily suspend dividend payments to shareholders. This is the largest layoff in Intel's history, indicating that the chip company is committed to reducing costs and promoting operational model transformation to reverse the long-term losses in its chip manufacturing business amid declining performance.