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HomeNewsTrendsEx-Intel CEO says he will fast for 100,000 employees, invites people to pray with him. Here's why

Ex-Intel CEO says he will fast for 100,000 employees, invites people to pray with him. Here's why

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.”

December 13, 2024 / 11:10 IST
This heartfelt message followed Pat Gelsinger's abrupt removal as Intel’s CEO after the board reportedly lost confidence in his strategic direction.

Ousted Intel CEO Pat Gelsinger made an emotional appeal on social media, urging colleagues and well-wishers to join him in prayer and fasting for the welfare of the company’s 100,000 employees. The appeal, shared on X (formerly Twitter), underscored Gelsinger's deep concern for the future of Intel and its workforce during a challenging period.

“Every Thursday, I dedicate a 24-hour period to prayer and fasting. This week, I invite you to join me in praying and fasting for the 100,000 Intel employees as they navigate this difficult time. Intel and its team are of seminal importance to the future of the industry and the United States,” Gelsinger wrote.

This heartfelt message followed Gelsinger's abrupt removal as Intel’s CEO after the board reportedly lost confidence in his strategic direction. The company has been grappling with financial turmoil, including a 58% stock decline, in stark contrast to the S&P 500’s 28% growth and Nvidia’s soaring performance during the same period. Intel has also undergone significant restructuring, with 15% workforce cuts and $10 billion in spending reductions.

Gelsinger described his departure as bittersweet. “Leading Intel has been the honour of my lifetime. Today is, of course, bittersweet, as this company has been my life for the bulk of my working career,” he remarked in a statement.

Intel, under his leadership, had championed the 18A semiconductor process, a project Gelsinger defended in the face of criticism. He asserted that yield rates alone did not fully capture the advancements made by Intel in this area.

Following his departure, co-CEOs David Zinsner and Michelle Johnston Holthaus have taken interim leadership roles. Intel is currently searching for a permanent CEO, reportedly considering internal and external candidates, including Marvell Technology’s Matt Murphy and former board member Lip-Bu Tan.

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.”

Moneycontrol News
first published: Dec 13, 2024 11:06 am

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