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Intel CEO Pat Gelsinger resigns without a permanent successor
In a blow to Intel's turnaround plans, CEO Pat Gelsinger has resigned from the big chip maker without a permanent successor in place.
Intel was a vaunted chipmaker throughout its history, but it fell behind Taiwan’s TSMC in leading technology and Advanced Micro Devices made a comeback with its Zen designers for microprocessors. Yeary added, “While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence. Yeary concluded, “With Dave and MJ’s leadership, we will continue to act with urgency on our priorities: simplifying and strengthening our product portfolio and advancing our manufacturing and foundry capabilities while optimizing our operating expenses and capital.
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