Intel Chief Executive Officer Pat Gelsinger has retired after a 40-yearlong career at the company, effective Dec. 1, the chipmaker said on Monday.
Intel Chief Executive Pat Gelsinger retired on Sunday after a 40-year career at the company that has lately been marred by missteps that have enabled rivals to overshadow the once-dominant chipmaker.
David Zinsner and Michelle Johnston Holthaus have been named co-CEOs as the board searches for a new chief executive, the company said Monday.
Zinsner is executive vice president and chief financial officer at the company. Holthaus is the chief executive of Intel Products, which encompasses the company’s client computing and artificial intelligence groups.
Intel shares jumped 3.9% on Monday.
The 63-year-old executive said leading Intel was the honor of his lifetime.
“Today is, of course, bittersweet as this company has been my life for the bulk of my working career,” Gelsinger said in a statement. “I can look back with pride at all that we have accomplished together.
