Intel CEO Pat Gelsinger Steps Down Amid Company Turmoil

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Intel,CEO,Pat Gelsinger

Intel has confirmed the sudden departure of CEO Pat Gelsinger, aiming to restore investor confidence. Gelsinger will retire in December and be temporarily replaced by EVP David Zinsner and Michelle Johnston Holthaus, with Frank Yeary becoming interim executive chair.

Intel has confirmed the sudden departure of chief executive Pat Gelsinger, in a move intended to restore investor confidence in the ailing Silicon Valley giant following a year of turmoil.

In a statement, Gelsinger said:"Leading Intel has been the honor of my lifetime - this group of people is among the best and the brightest in the business, and I'm honored to call each and every one a colleague. Yeary thanked Gelsinger on behalf of the board for his many years of service and dedication to Intel, saying that he"helped launch and revitalize process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working tirelessly to drive innovation throughout the company."

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