Intel Axes CEO Pat Gelsinger: Is It Time to Buy the Struggling Chip Stock?
Gelsinger spent most of his career at Intel, rising to chief technology officer before leaving to run VMWare in 2012 and then returning as CEO in 2021. He was generally well respected by Wall Street and industry insiders, but on his watch, the stock underperformed the market as Intel lost ground in the AI race to Nvidia.
Intel will pay $7M in severance to former CEO Pat Gelsinger, plus millions more in bonuses
Intel’s hiring agreement with Gelsinger promised him a severance payment of 18 months of his salary and his annual target bonus if he resigned “for good reason.” In a regulatory filing Tuesday, Intel said that it had agreed to pay him that in connection with his retirement.
A new boss will have to decide whether to abandon the company’s hopes of becoming a chip-manufacturing leader.
Gelsinger, CEO since 2021, had a 40-plus-year career at Intel. He was betting the company on 18A, a new chipmaking process ...
Intel is in the process of shedding many non-core products and related assets while showing very positive results in its ...
Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday in a surprise announcement.Two company executives, ...
CFO David Zinsner will step in as interim co-CEO as Intel races to regain lost ground in the GenAI race after reporting a ...
Shares of computer processor maker Intel (NASDAQ:INTC) fell 5.9% in the afternoon session after the company announced the retirement of CEO Pat Gelsinger. While the company searches for his ...
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