Pat Gelsinger Retires as Intel CEO Amidst Challenging Times

Intel announced Monday that CEO Pat Gelsinger has retired, marking the end of an era for the company. Gelsinger, who first joined Intel in 1979, has led the company through some turbulent times in recent years. His decision to step down has been described as “bittersweet,” with the outgoing CEO reflecting on his tenure as “the honor of my lifetime.” In the wake of Gelsinger’s retirement, Intel has named David Zinsner and Michelle Johnston “MJ” Holthaus as interim co-CEOs while the company embarks on a search for a permanent replacement.

A Career That Spanned Decades

Pat Gelsinger’s relationship with Intel dates back more than four decades. He joined the company as an engineer in 1979 and quickly rose through the ranks, eventually becoming the company’s CEO in 2021. His return to Intel as CEO was seen as a bid to steer the company back to its roots in semiconductor leadership. Under his leadership, Intel sought to revitalize its business and regain its technological edge, especially after facing stiff competition from rivals like AMD and Nvidia.

Gelsinger’s leadership came at a pivotal time for Intel, as the company was grappling with manufacturing delays and losing market share in the CPU market. He spearheaded a strategy to reposition Intel as a leader in the burgeoning fields of artificial intelligence, 5G, and data center technologies, and pushed for aggressive investments in chip manufacturing. However, despite his efforts, Intel has struggled to fully regain its former dominance, facing mounting pressure from competitors and an increasingly complex global supply chain.

A Challenging Era for Intel

Gelsinger’s tenure was marked by both ambitious goals and intense headwinds. The company’s financial struggles have been well-documented, with Intel recently reporting a staggering $17 billion net loss for the previous quarter. The losses were partly attributed to challenges in Intel’s core business, including delays in transitioning to more advanced chip manufacturing processes and difficulties ramping up production in line with global demand.

Intel’s stock has taken a significant hit, down more than 50% this year alone. The company has also faced a blow to its market stature, losing its place on the Dow Jones Industrial Average—a symbol of the struggles it has faced in maintaining its position as a tech giant. In recent months, the company has had to contend with significant challenges, including rising competition from rivals, the ongoing semiconductor shortage, and the complexities of global geopolitical tensions that have affected its supply chain and manufacturing capabilities.

Despite these challenges, Gelsinger has remained steadfast in his commitment to Intel’s long-term vision. In a statement following the announcement of his retirement, Gelsinger acknowledged the difficult times the company has faced but emphasized the progress made in revitalizing Intel’s position within the industry. His leadership, however, did not prevent Intel from enduring some of the most difficult financial setbacks in its history.

The Road Ahead

As Intel searches for a new permanent CEO, the interim leadership duo of David Zinsner and Michelle Johnston Holthaus will take the reins. Zinsner, who currently serves as the company’s CFO, brings deep financial expertise to the role, while Holthaus, the executive vice president and general manager of Intel’s Sales, Marketing, and Communications Group, has been a key figure in driving Intel’s customer-focused strategy. The combination of their experience positions them to navigate Intel through this period of transition as the company faces the daunting task of turning around its financial performance and regaining investor confidence.

Intel’s future under new leadership will depend heavily on its ability to innovate and adapt to the rapidly changing semiconductor industry. As Gelsinger’s retirement marks the end of one chapter, it also signals the beginning of a critical phase for Intel—one that will require bold decisions, fresh perspectives, and a focused commitment to reinvigorating the company’s competitive edge.

For now, Pat Gelsinger’s legacy will be defined by his efforts to steer Intel through challenging times and his relentless pursuit of technological advancement. His retirement, while not entirely unexpected given the pressures the company has faced, nonetheless represents a major turning point for Intel as it prepares for the next phase in its storied history.

Gelsinger’s “Bittersweet” Goodbye

In his farewell message, Gelsinger reflected on the journey that brought him back to Intel, calling it “the honor of my lifetime” to lead the company. His emotional acknowledgment of the challenges the company has faced in recent years underscores the complexity of the task that lies ahead for his successor. While his leadership did not deliver the immediate turnaround many had hoped for, Gelsinger’s departure is a reminder of the difficult road ahead for Intel, as well as the immense challenges facing legacy companies in the rapidly evolving tech industry.

As the search for a new CEO begins, all eyes will be on Intel as it looks to navigate a shifting semiconductor landscape and reclaim its position as a leader in the global tech industry.

A Former Employee Praises Pat

This tribute tells you all you need to know about Pat’s impact along the way.

Nick Howell • Global Field CTO, Cloud at NetAppGlobal • 17 hours ago

Here’s my hot take: Pat Gelsinger isn’t just one of the most impactful leaders of his time—he’s one of the most important executives in the history of enterprise tech. Full stop.

As Pat wraps up an incredible chapter in his career, I can’t help but reflect on everything he’s done—not just for the companies he’s led, but for the entire industry.

Pat’s story with Intel is legendary. He started there as a young engineer and quickly made a name for himself by helping create the 80486 processor—a breakthrough that changed personal computing forever. Oh, and let’s not forget USB—yes, the thing we all use every single day—that’s something Pat played a huge part in making happen. Over his 30 years at Intel, he rose to become the company’s first-ever CTO, steering innovation at a time when Intel was shaping the future of tech as we know it.

When Pat moved to VMware, he brought that same visionary energy and transformed the company into a global leader in cloud computing and virtualization. From multi-cloud solutions to modern app development with Tanzu, he helped businesses embrace the future with open arms. But what made Pat stand out wasn’t just the technology—he built a culture at VMware that valued customers, innovation, and people, leaving an incredible legacy there.

One thing I’ve always admired about Pat is how much he embraced community. He didn’t just sit in the C-suite—he showed up. Whether it was mixing it up with developers at events, keynoting at conferences, or guesting on podcasts, Pat always made time to connect. He understood that the heart of innovation is people, and he wasn’t afraid to roll up his sleeves and be part of the conversation. That kind of presence is rare, and it’s part of what made him such an inspiring leader.

And then, as if that wasn’t enough, Pat came back to Intel in 2021, ready to take on one of the biggest challenges of his career—during a global pandemic, no less. Supply chain disruptions were wreaking havoc across the world, and the semiconductor industry was at the center of it all. Pat didn’t flinch. With bold moves like the IDM 2.0 strategy, he led Intel through this storm, working tirelessly to rebuild the company’s manufacturing leadership and shore up the supply chain at a time when the entire world was relying on technology more than ever. That’s the kind of leader Pat is: unshaken in the face of adversity and always focused on the bigger picture.

Through it all, Pat’s leadership has been about more than just results. He’s a mentor, a role model, and a genuinely good human. Whether you worked with him directly or admired him from afar, you couldn’t help but be inspired by his humility, his faith, and his drive to make a real difference.

Pat, thank you for everything you’ve done to move this industry forward. You’ve left a mark that will be felt for generations, and we’re all better for it. Wishing you nothing but the best in whatever comes next—you’ve more than earned it!