Intel Corporation has announced the retirement of its CEO, Pat Gelsinger, following a remarkable career spanning more than four decades. Effective December 1, 2024, Gelsinger will also step down from the company’s board of directors, marking the end of a tenure that has profoundly shaped both Intel and the broader technology industry.
In response to Gelsinger’s departure, Intel’s board has appointed David Zinsner and Michelle (MJ) Johnston Holthaus as interim co-chief executive officers. Zinsner currently serves as executive vice president and chief financial officer, while Holthaus has been named the CEO of Intel Products, a newly created role encompassing the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX). Meanwhile, Frank Yeary, the independent chair of Intel’s board, will assume the role of interim executive chair during the leadership transition. The company’s Foundry Services leadership structure remains unchanged.
Intel’s board of directors has formed a search committee to identify Gelsinger’s permanent successor. The committee is committed to conducting a thorough and timely process to ensure Intel’s leadership aligns with its strategic goals.
A Legacy of Leadership and Innovation
Frank Yeary, interim executive chair, expressed gratitude for Gelsinger’s contributions, stating:
“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.”
Gelsinger has been instrumental in steering Intel toward regaining its manufacturing competitiveness. His initiatives aimed at reinforcing Intel’s position as a global leader in semiconductor technology have laid a strong foundation for future growth.
Yeary emphasized the board’s focus on meeting customer demands and driving product excellence:
“With MJ’s permanent elevation to CEO of Intel Products along with her interim co-CEO role, we are ensuring the product group will have the resources needed to deliver for our customers. Returning to process leadership is central to product leadership, and we will remain focused on that mission while driving greater efficiency and improved profitability.”
Transitioning Leadership
David Zinsner and MJ Holthaus will lead Intel during this transitional phase. Both leaders bring extensive expertise and a proven track record of success.
- David Zinsner: With over 25 years of experience in financial and operational roles within the semiconductor and technology industries, Zinsner joined Intel in 2022. Prior to this, he served as executive vice president and CFO at Micron Technology Inc. Zinsner has also held leadership roles at Affirmed Networks and Analog Devices, where he demonstrated a strong capability in navigating complex financial landscapes.
- Michelle Johnston Holthaus: A veteran of nearly 30 years at Intel, Holthaus has held a variety of leadership roles, including general manager of the Client Computing Group (CCG) and chief revenue officer. In her new role as CEO of Intel Products, she will oversee critical divisions including CCG, DCAI, and NEX. Holthaus’s experience in sales, marketing, and product management positions her to lead Intel’s product-centric strategies effectively.
The duo expressed their commitment to advancing Intel’s objectives, stating:
“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.”
Gelsinger’s Reflections
Reflecting on his tenure, Gelsinger shared heartfelt gratitude for his colleagues and the opportunities he’s had to lead Intel:
“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.”
Gelsinger’s career at Intel began in 1979, where he quickly rose through the ranks to become its first chief technology officer. His leadership has left an indelible mark on Intel’s culture of innovation and urgency.
As Intel navigates this leadership transition, the company remains focused on simplifying its product portfolio, advancing manufacturing capabilities, and optimizing operational efficiency. The board, alongside Zinsner and Holthaus, aims to maintain momentum in these critical areas while positioning Intel for long-term success.
The search for Gelsinger’s successor signals a pivotal moment for Intel as it seeks to continue its legacy as a global leader in semiconductor technology. With a strong interim leadership team and a clear commitment to innovation and customer-centric strategies, Intel is poised to build on Gelsinger’s enduring contributions.
