Facing difficulties in AI transformation, performance losses, and a market cap shrinkage of nearly half, intel's CEO was "forced" to retire, and the stock price once surged more than 5.7%.
Pat Gelsinger, the CEO who worked at intel for over 40 years, officially retired on December 1, Eastern Time. During his nearly four-year tenure, despite intel setting ambitious plans, its market position continued to decline. The board of directors lost confidence in his ability to turn the situation around, ultimately giving him the choice to retire or be dismissed; Gelsinger chose to end his career at intel. After the announcement, intel's stock price rose over 5.7% during trading on Monday.
December Starts With a Mixed Market | Live Stock
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