Intel announced on Monday that CEO Pat Gelsinger, 63, retired effective December 1. Gelsinger also stepped down from the board of directors on the same date. He had been with Intel for over three decades including four years as CEO. The abrupt announcement further states that Intel’s Chief Financial Officer David Zinsner and Intel Products...
Pat Gelsinger, CEO Intel, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBC Intel executives are working with multiple advisors to formulate options to address its flagging business, according to a person with knowledge of the matter. Those advisors, which include Morgan Stanley and...
After reporting a $1.6 billion net loss for Q2 2024, Intel is aiming to cut costs by $10 billion by next year. On Thursday, the tech giant announced layoffs affecting more than 15,000 people, about 15% of Intel’s current workforce. In a Thursday memo to staff, Intel CEO Pat Gelsinger said that revenue hadn’t grown...
Signage outside Intel headquarters in Santa Clara, California, on Monday, Jan. 30, 2023. David Paul Morris | Bloomberg | Getty Images Intel shares rose about 7% in after-hours trading after the company reported third-quarter earnings on Thursday that beat expectations for profit and sales, even as overall revenue declined. Here’s how Intel did versus LSEG...
Intel CEO Pat Gelsinger stands in front of a cathedral in the German city of Magdeburg on Nov. 12, 2022. During his visit, Gelsinger also visited the planned site of the Intel Gigafactory in the Eulenberg industrial park. /dpa-Zentralbild/dpa (Photo by Peter Gercke/picture alliance via Getty Images) Peter Gercke | Picture Alliance | Getty Images...