Pat Gelsinger, the CEO of Intel, announced his resignation on Monday following a challenging tenure. The stock of the once-dominant chipmaker plummeted as it missed the AI boom and was overtaken by the majority of its competitors.
Returning to the business where he spent decades of his career, including as chief technology officer, Gelsinger became the new CEO of Intel in February 2021. He had joined software giant VMware as CEO after leaving Intel.
Gelsinger was entrusted with reviving Intel, the venerable American computing behemoth that was reeling from manufacturing setbacks, extraordinary competition, and the loss of top staff. However, the business’s prospects worsened during his tenure as it became evident that it had lagged behind another significant technological wave.
