Summary by Moomoo AI
On December 1, 2024, Intel announced the resignation of CEO Pat Gelsinger, effective immediately. Gelsinger, who also stepped down from the board, will receive a severance package including 18 months of salary and bonuses. In response, Intel's board appointed Michelle Johnston Holthaus and David Zinsner as interim Co-CEOs. Holthaus, previously EVP and GM of the Client Computing Group, is now CEO of Intel Products. Zinsner continues as EVP and CFO. Frank Yeary was named interim Executive Chair to oversee the CEO search process. The board has formed a search committee to find a permanent CEO. Intel aims to maintain its focus on product leadership and manufacturing efficiency during this transition, ensuring continued innovation and customer satisfaction.
