Intel CEO Gelsinger leaves after chipmaker’s turnaround flounders

Mr Gelsinger began working at the company when he was a teenager, but left in 2009 and became CEO of VMware

Former taoiseach Leo Varadkar with Intel CEO Pat Gelsinger greet one another at the opening of a new fabrication plant at the Intel facility in Leixlip in 2023. File Picture: Leah Farrell / RollingNews.ie

Intel chief executive officer Pat Gelsinger, who was hired in 2021 to lead an ambitious turnaround of the iconic chipmaker, will leave the job after the comeback sputtered and the company only fell further behind rivals.

Intel chief financial officer David Zinsner and Michelle Johnston Holthaus, who is taking on a new role as CEO of the company’s product group, are serving as interim co-CEOs while the board searches for Mr Gelsinger’s replacement, the company said in a statement. Frank Yeary, independent chair of the board of Intel, will serve as interim executive chair.