Intel in crisis: CEO Pat Gelsinger resigns – what now?

Intel in crisis: CEO Pat Gelsinger resigns – what now?

The shock is deep: Pat Gelsinger, the former hope and CEO of the ailing chip giant Intel, suddenly resigns. On December 1st, Gelsinger announced his resignation, plunging the company into an uncertain future. The departure comes at a time when Intel needs to take urgent action to assert itself in the highly competitive semiconductor market. Draconian cuts, including the elimination of around 15,000 jobs, have already been announced during the turbulent tenure of Gelsinger, who was appointed to the top as a restructuring executive in 2021, as the crown reported.

The new leadership under pressure

In the transition phase, David Zinsner and Michelle Johnston Holthaus will now take the lead. Zinsner, previously finance chief, and Holthaus, who will lead several Intel sectors in a newly created position, must act quickly to smooth things over after Gelsinger's departure. Despite billions of dollars in investments to strengthen the company, Intel is under immense pressure, especially in competition with Nvidia, which has taken over the top position in the AI ​​chip market. Production plans for a new chip factory in Germany have also been pushed back by two years, which only adds to the challenges. Manager Magazine highlights that Intel is now committed to strengthening its trusted product lines to regain investor confidence.

Gelsinger's resignation marks the end of an era in which he tried to put Intel back on the road to success. “We have made significant progress in restoring manufacturing competitiveness,” said a company spokesman, but the challenge remains significant. The decisions and strategies ahead could determine whether Intel can restore its legacy as a pioneer in the semiconductor sector or whether the company fades into insignificance.