On Monday, Intel CEO Pat Gelsinger abruptly decided to retire after less than four years on the job. That was the official story, anyhow. Within hours, Reuters, Bloomberg, and The New York Times had a different one: the board of directors pushed him out.
Three and a half years ago, Gelsinger announced an ambitious plan to turn around the troubled chipmaker within four years — now, he’s reportedly been kicked out of the company before he could see it through. It happened so abruptly that Intel doesn’t have a planned successor in mind, and so completely that Gelsinger won’t even stick around as an adviser. He’s gone.
Intel has been in a tailspin for years. It missed the smartphone revolution, has been plagued by quality control issues with its chips, lost customers like Apple to alternative processors, and now is at risk of missing out on AI, too.
This isn’t just about stock price and golden parachutes
If Intel is falling apart, this isn’t just a business story. The United States government has called it a national security story, too. Intel isn’t just the world’s former leading maker of computer chips; it’s one of the last companies to both design and manufacture them itself…
