Pat Gelsiger, former CEO at Intel, has officially retired. According to the chipmaker’s newsletter, Gelsinger is also stepping down from the board of directors, while his retirement went into effect on 1 December 2024.
“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.” Frank Yeary, interim executive chair, stated regarding Gelsinger’s retirement.
To say that Intel has been having a rough couple of years would be a massive understatement. The company is set to take on another round of losses and has tried to alleviate the haemorrhaging through the layoffs of up to 19,000 staff. As of this publication, the chipmaker still has yet to hear from the US government regarding the US$8.5 billion (~RM37.5 billion) in grants via the Chips and Science Act, plus an additional US$11 billion (~RM48.9 billion) in loans. The company says that the Biden administration, which is on the way out, has “dragged their feet” on the matter but to be fair, Intel has been hesitant with sharing certain information with the Commerce Department.
(Source: Intel)
