Intel is looking for a new CEO
- December 4, 2024
- 0
After the departure of Pat Gelsinger, Intel begins the search for a new CEO. Some candidates have been shortlisted. Is Intel putting the right person in the right
After the departure of Pat Gelsinger, Intel begins the search for a new CEO. Some candidates have been shortlisted. Is Intel putting the right person in the right place?
As of December 1st, Intel has had an opening for the CEO position. Intel released the surprising news on Monday that CEO Pat Gelsinger has left the company effective immediately. The 63-year-old Gelsinger resigned from his position to enjoy his retirement. A severance payment of up to ten million dollars will certainly help.
Wanted: new CEO
CFO David Zesner and Michelle Johnston Holthaus are temporarily taking over the honors, but the search for a new CEO is already underway. Lip-Bu Tan is a possible candidate. Tan is the current CEO of software company Cadence and served on Intel’s board from 2022 until August this year. He resigned from this position because he did not agree with Gelsinger’s reform plans.
According to Reuters, Intel is also considering an outside candidate. It would be on the sleeve of Matt Murphy, CEO of Marvell Technologies, for example. Intel doesn’t want to reveal too much information at this stage of the application process. There will undoubtedly be names associated with the CEO position at Intel in the coming days.
Turning point
Intel will have to make a very thoughtful decision. The chip manufacturer is facing a crucial turning point in its long history. The once untouchable chip giant has lost many of its feathers in recent years due to mismanagement. Intel was unable to maintain its role as a technology leader in the market and had to let companies like TSMC, AMD and Nvidia disappear from under the throne.
Pat Gelsinger was appointed in 2021 to build on past successes. A task that proved extremely difficult even for a man of the house, although Gelsinger had apparently taken the helm with ambitious reforms. Investors had little confidence in Gelsinger’s plans and the board also turned against his CEO. This forced Gelsinger to leave after a long career at Intel.
The direction Intel takes in 2025 will depend on who takes over as CEO. Can Intel still turn the tide? That remains an open question for now.
Source: IT Daily
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