Intel CEO Pat Gelsinger has unexpectedly retired as the chipmaker attempts to bounce back from financial struggles and execute on his ambitious comeback plan.

Over the weekend, Intel announced the retirement of its CEO Pat Gelsinger who has been in the role since February 2021.

Intel former CEO Pat Gelsinger could get as much as $12 million as payout, a regulatory filing showed on Tuesday, following his ouster from the struggling U.S. chipmaker. The company said the severance payment would include $1.

Intel Corp. CEO Pat Gelsinger has retired from the company and has stepped down from the board of directors effective immediately. The move comes as Intel is under incredible pressure from external and internal forces after several rounds of layoffs and delays in its attempt to expand semiconductor manufacturing in the U.S.

Intel said Pat Gelsinger has retired and stepped down from the company’s board of directors.

Intel Corp. announced that CEO Pat Gelsinger has retired from the company and stepped down from the board of directors, effective Dec. 1, 2024.

(Reuters) -Chipmaker Intel said on Monday CEO Pat Gelsinger retired from the chipmaker, effective Dec. 1. The company named CFO David Zinsner and senior executive Michelle Johnston Holthaus as interim co-chief executive officers while its board conducted a search for a new CEO.

Intel (NASDAQ:INTC) made the surprising announcement on Monday that Chief Executive Officer Pat Gelsinger is retiring and will be replaced by co-CEOs David Zinsner and Michelle Johnston Holthaus. Gelsinger is also stepping down from the company's board of directors.