Intel CEO Pat Gelsinger retires – Computerworld

‘The honor of my lifetime’

In a brief statement accompanying the announcement of his retirement, Gelsinger said, “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. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics. I am forever grateful for the many colleagues around the world who I have worked with as part of the Intel family.”  

Not unexpected

Anshel Sag, principal analyst at Moor Insights & Strategy, said Monday he had been expecting this kind of announcement, primarily because Gelsinger has “already spent a lot of time and energy turning the company around. While this announcement seems abrupt, and it is, we probably won’t know the root cause for a while.”

That said, he added, Gelsinger and the board “have clearly put the right people in place for success in the future, as Johnson Holthaus is the right pick for products CEO and the right person to help guide the company into the future. I have spoken with her extensively and she’s very candid and honest, and knows what needs to be fixed within the company, and it shows, with CCG  keeping the company afloat.”