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After a little over three months, Intel has a new CEO to replace ousted former CEO Pat Gelsinger. Intel's board announced that Lip-Bu Tan will begin as Intel CEO on March 18th, taking over from interim co-CEOs David Zisner and Michelle Johnston Holthaus.
Gelsinger was booted from the CEO position by Intel's board on December 2 after several quarters of losses, rounds of layoffs, and canceled or spun-off side projects. Gelsinger sought to turn Intel into a foundry company that also manufactured chips for fabless third-party chip design companies, putting it into competition with Taiwan Semiconductor (TSMC), Samsung, and others, a plan that Intel said it was still committed to when it let Gelsinger go.
Intel said that Zisner would stay on as executive vice president and CFO, and Johnston Holthaus would remain CEO of the Intel Products Group, which is mainly responsible for Intel's consumer products. These were the positions both executives held before serving as interim co-CEOs.
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Gelsinger was booted from the CEO position by Intel's board on December 2 after several quarters of losses, rounds of layoffs, and canceled or spun-off side projects. Gelsinger sought to turn Intel into a foundry company that also manufactured chips for fabless third-party chip design companies, putting it into competition with Taiwan Semiconductor (TSMC), Samsung, and others, a plan that Intel said it was still committed to when it let Gelsinger go.
Intel said that Zisner would stay on as executive vice president and CFO, and Johnston Holthaus would remain CEO of the Intel Products Group, which is mainly responsible for Intel's consumer products. These were the positions both executives held before serving as interim co-CEOs.
Read full article
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