Pat Gelsinger steps down as CEO of Intel

Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the company looks for a new CEO. 

Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed CEO of Intel Products, which includes the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX).

Frank Yeary, independent chair of the board of Intel, will become interim executive chair during the period of transition. 

“On behalf of the board, I want to thank Pat for his many years of service and dedication to Intel across a long career in technology leadership. Pat spent his formative years at Intel, then returned at a critical time for the company in 2021. As a leader, Pat helped launch and revitalize process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working tirelessly to drive innovation throughout the company,” says Yeary in a press release. 

Gelsinger began his career in 1979 at Intel, growing at the company to eventually become its first chief technology officer. He was appointed as CEO in 2021.

“Leading Intel has been the honor of my lifetime – this group of people is among the best and the brightest in the business, and I’m honored to call each and every one a colleague. Today is, of course, bittersweet as this company has been my life for the bulk of my working career. I can look back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family,” says Gelsinger.