intel CEO suddenly 'retired', the former chip leader's dominance is waning, and the stock price has fallen by more than 50% this year!
Forced and helpless.
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AI transformation difficulties, performance losses, market cap shrinking by nearly half, intel CEO "forced" to retire, stock price surged by nearly 6% at one point.
Pat Gelsinger, the CEO who worked at intel for over 40 years, officially retired on December 1st, Eastern Time. During his nearly four-year tenure, despite intel's ambitious plans, the market position continued to decline. The board of directors lost confidence in his ability to turn the situation around and ultimately gave him the choice of retiring or being dismissed, with Gelsinger opting to end his career at intel. Following the announcement, intel's stock price surged more than 5.7% during trading on Monday.
