Pat Gelsinger’s message concluded with a call for resilience and hope, quoting Proverbs 3:3: “Let love and faithfulness never leave you; bind them around your neck, write them on the tablet of your heart.”
The board told Gelsinger he could retire or be removed, and he chose to step down, Reuters reported.
Intel Chief Financial Officer David Zinsner and Executive Vice President Michelle Johnston Holthaus are serving as interim co-CEOs while the board searches for Gelsinger’s replacement, the company said in a statement.
Gelsinger took a direct shot at Nvidia CEO Jensen Huang’s claim that traditional processors like Intel’s are running out of steam in the age of artificial intelligence.
Intel’s first-quarter projection for both sales and profit came in well short of Wall Street estimates, and executives struggled to soothe concerns during a conference call with analysts.
The Asia Pacific and Japan (APJ) will drive Intel's roadmap to product leadership by 2025, APJ head Steve Long said.
In her end-of-year news conference in December, Italian Prime Minister Giorgia Meloni said she considered an investment by Intel in Italy as highly strategic and would schedule a meeting with the company to explore ways to facilitate it.
Pat Gelsinger said at a press roundtable on the sidelines of the World Economic Forum that “to us, this is now the No. 1 issue, is in fact the delivery of equipment.”
At an event in Ohio last week, Pat Gelsinger told the audience that they will face setbacks, but it is their approach to difficulties that will define them.
The new advanced packaging facility in Malaysia is expected to begin production in 2024, he said.
Intel CEO Pat Gelsinger, speaking at Munich’s IAA auto show, also said the company would announce the locations of two major new European chip fabrication plants by the end of the year.
Chief Executive Officer Pat Gelsinger said the company is talking to companies that design chips for automakers about manufacturing those chips inside Intel's factory network, with the goal of producing chips within six to nine months. Gelsinger earlier on Monday met with White House officials to discuss the semiconductor supply chain.
Bob Swan, who became the company's chief executive in early 2019, will be replaced in mid-February by industry veteran Pat Gelsinger.