Intel CEO Pat Gelsinger Retires; Names David Zinsner And Michelle Johnston Holthaus Interim Co-CEOs

(RTTNews) - Intel Corp. (INTC) announced Monday 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 December 1, 2024.

Intel has named two senior leaders, David Zinsner and Michelle 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. The board has formed a search committee and will work diligently and expeditiously to find a permanent successor to Gelsinger.

Gelsinger began his career in 1979 at Intel, growing at the company to eventually become its first chief technology officer.

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. Holthaus 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.