Intel CEO Pat Gelsinger Retires; David Zinsner and Michelle Johnston Holthaus Named Interim Co-CEOs
SANTA CLARA, Calif., Dec. 2, 2024 – In a significant leadership change, Intel Corporation has announced the retirement of its long-serving CEO, Pat Gelsinger, who has concluded a remarkable career spanning over 40 years. His departure from the company and the board of directors took effect on December 1, 2024.
In the wake of Gelsinger’s retirement, Intel has appointed David Zinsner and Michelle Johnston Holthaus as interim co-CEOs. Zinsner, who serves as the executive vice president and chief financial officer, will collaborate with Holthaus, who has been designated as the CEO of Intel Products—a newly created role overseeing key divisions including the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX).
During this transitional period, Frank Yeary, the independent chair of Intel’s board, will take on the role of interim executive chair. The board has also established a search committee tasked with finding a permanent replacement for Gelsinger.
Reflecting on a Legacy
Yeary expressed gratitude to Gelsinger for his extensive contributions to Intel, stating, “Pat’s dedication and leadership have profoundly impacted the company and the technology sector. His return to Intel in 2021 came at a pivotal moment, and under his guidance, we launched initiatives that significantly enhanced our manufacturing capabilities.”
He further highlighted the progress made during Gelsinger’s tenure, noting, “While we have achieved considerable advancements in our manufacturing competitiveness, we recognize that there is still much work ahead. Our commitment to placing our product group at the forefront remains unwavering.”
Gelsinger’s Reflections
Gelsinger himself remarked on his departure, saying, “Leading Intel has been a profound honor. I have had the privilege of working with some of the most talented individuals in the industry. Reflecting on our accomplishments fills me with pride, even as we navigated challenging decisions to adapt to market dynamics.”
Throughout his diverse roles at Intel, Gelsinger has been a catalyst for innovation, shaping not only the company but also the broader technology landscape. He began his journey at Intel in 1979 and ultimately became its first chief technology officer.
New Leadership Directions
Both Zinsner and Holthaus have committed to prioritizing Intel Products and addressing customer needs. Zinsner brings over 25 years of experience in finance and operations within the tech sector, having joined Intel in 2022 from Micron Technology. Holthaus, who has nearly three decades of service at Intel, previously led the CCG and has held various leadership roles including chief revenue officer.
As Intel moves forward, the leadership team emphasizes a focused approach on simplifying the product portfolio, enhancing manufacturing capabilities, and optimizing operational efficiency. Their strategy aims to position Intel as a leaner, more agile organization that can respond effectively to market demands.
In a rapidly evolving industry, Intel’s leadership transition represents both a challenge and an opportunity to redefine its corporate strategy and reinforce its commitment to innovation and excellence.
