Intel CEO Pat Gelsinger ousted by board after disastrous performance
Publishing timestamp: 2024-12-02 14:56:18
Summary
Intel CEO Pat Gelsinger retired after a tumultuous tenure marked by market share losses and failure to crack the artificial intelligence market. The company's stock has fallen 52% year to date. Gelsinger's retirement comes after a contentious board meeting over his perceived failure to respond to Nvidia's competitive edge. Intel CFO David Zinsner and Intel products CEO MJ Holthaus were named interim co-CEOs. Intel's future remains uncertain as it faces challenges in the semiconductor industry.
Sentiment: NEGATIVE
Keywords: pat gelsinger, intel corp, artificial intelligence, nvidia corp, breaking news: technology, generative ai, business news,
Source: https://www.cnbc.com/2024/12/02/intel-ceo-pat-gelsinger-is-out.html