Intel Announces Retirement of CEO Pat Gelsinger
December 2, 2024 | BUSINESS WIREEstimated reading time: 3 minutes

Intel Corporation announced that CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024.
Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group (CCG), Data Center and AI Group (DCAI) and Network and Edge Group (NEX). Frank Yeary, independent chair of the board of Intel, will become interim executive chair during the period of transition. Intel Foundry leadership structure remains unchanged.
The board has formed a search committee and will work diligently and expeditiously to find a permanent successor to Gelsinger.
Yeary said, “On behalf of the board, I want to thank Pat for his many years of service and dedication to Intel across a long career in technology leadership. Pat spent his formative years at Intel, then returned at a critical time for the company in 2021. As a leader, Pat helped launch and revitalize process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working tirelessly to drive innovation throughout the company.”
Yeary continued, “While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence. As a board, we know first and foremost that we must put our product group at the center of all we do. Our customers demand this from us, and we will deliver for them. With MJ’s permanent elevation to CEO of Intel Products along with her interim co-CEO role of Intel, we are ensuring the product group will have the resources needed to deliver for our customers. Ultimately, returning to process leadership is central to product leadership, and we will remain focused on that mission while driving greater efficiency and improved profitability.”
Yeary concluded, “With Dave and MJ’s leadership, we will continue to act with urgency on our priorities: simplifying and strengthening our product portfolio and advancing our manufacturing and foundry capabilities while optimizing our operating expenses and capital. We are working to create a leaner, simpler, more agile Intel.”
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. Today is, of course, bittersweet as this company has been my life for the bulk of my working career. I can look back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family.”
Throughout Gelsinger’s tenure at Intel across a variety of roles, he has driven significant innovation and advanced not only the business but the broader global technology industry. A highly respected leader and skilled technologist, he has played an instrumental role in focusing on innovation while also creating a sense of urgency throughout the organization. Gelsinger began his career in 1979 at Intel, growing at the company to eventually become its first chief technology officer.
Zinsner and Holthaus said, “We are grateful for Pat’s commitment to Intel over these many years as well as his leadership. We will redouble our commitment to Intel Products and meeting customer needs. With our product and process leadership progressing, we will be focused on driving returns on foundry investments.”
Zinsner has more than 25 years of financial and operational experience in semiconductors, manufacturing and the technology industry. He joined Intel in January 2022 from Micron Technology Inc., where he was executive vice president and CFO. Zinsner served in a variety of other leadership roles earlier in his career, including president and chief operating officer at Affirmed Networks and senior vice president of finance and CFO at Analog Devices.
Holthaus is a proven general manager and leader who began her career with Intel nearly three decades ago. Prior to being named CEO of Intel Products, she was executive vice president and general manager of CCG. Holthaus has held a variety of management and leadership roles at Intel, including chief revenue officer and general manager of the Sales and Marketing Group, and lead of global CCG sales.
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
Latent AI, Wind River Collaborate to Advance Edge AI for Mission-Critical Systems
09/12/2025 | BUSINESS WIRELatent AI, a leader in edge AI solutions, and Wind River, an Aptiv company and global leader in delivering software for the intelligent edge, announced a strategic cooperation to accelerate edge AI maturity to bring artificial intelligence capabilities to the real-time edge platforms that power mission-critical infrastructure across industries.
Procense Raises $1.5M in Seed Funding to Accelerate AI-Powered Manufacturing
09/11/2025 | BUSINESS WIREProcense, a San Francisco-based industrial automation startup developing cutting-edge AI and remote sensing technologies for process manufacturers has raised $1.5 million in a seed funding round led by Kevin Mahaffey, Business Insider’s #1 seed investor of 2025 and HighSage Ventures, a Boston-based family office that primarily invests in public and private companies in the global software, internet, consumer, and financial technology sectors.
Intel Announces Key Leadership Appointments to Accelerate Innovation and Strengthen Execution
09/09/2025 | Intel CorporationIntel Corporation today announced a series of senior leadership appointments that support the company’s strategy to strengthen its core product business, build a trusted foundry, and foster a culture of engineering across the business.
Intel Collaborates with LG Innotek to Implement an AI-powered Smart Factory
09/05/2025 | IntelIntel Core and Intel Xeon processors along with Intel Arc GPUs enable a comprehensive inspection process inside LG Innotek’s factory in Gumi, Korea.
Gartner Says AI PCs Will Represent 31% of Worldwide PC Market by the End of 2025
08/29/2025 | Gartner, Inc.Artificial intelligence (AI) PCs will represent 31% of the total PC market globally by the end of 2025, according to Gartner, Inc. a business and technology insights company. Worldwide shipments of AI PCs are projected to total 77.8 million units in 2025.