Through a simple press release, Intel has announced that Pat GelsingerCEO of the company for the last three years and who arrived to “save it at a bad time”, is no longer the top leader. The curious thing about this is that no one seems to be clear if it is Intel who has terminated Gelsinger, if they have “invited him to retire” or if it was he himself who has resigned, but the fact is that the future of the company is now more uncertain than ever.
With the “exit” of Pat Gelsinger, the company has released a press release announcing that the company’s leadership has also been temporarily restructured, and has named two temporary co-CEOs: David Zinsner (as executive vice president and chief financial officer (CFO)) and Michelle Johnston Holthaus (as CEO of the newly created “Intel Products” division).
Intel without Pat Gelsinger, more lost than ever
Not even a month ago, Intel declared the largest losses ever recorded by the company: $16.6 billion. After this disaster, the company decided to “lighten up” and laid off 15,000 employees while making several adjustments to try to mitigate these financial problems, making it clear that, of course, things were not going well for them.
But things weren’t going very well before either, and in fact Pat Gelsinger came to Intel a little over three years ago to try to revive a company that was failing… although it seems that, in the end, things haven’t gone as expected. seen what has been seen. Of course, in the press release, the company has not attributed the departure of its CEO to any of these reasons.
In fact, before Pat Gelsinger left he did leave some guidelines to “save” the company in 2025, such as simplifying the product catalog, improving organizational efficiency and focusing on the development of its Intel 18A node. The plan that Gelsinger presented when he was promoted as the company’s top executive seemed quite good, and a good future was predicted; But of course, that’s what they always say when they name a new CEO.
Now we will see if the company’s new co-CEOs decide to follow in the wake that Gelsinger has left or not, but what is clear is that after his more than 40 years in the company, it is not that his 3 years as CEO are going to make a difference. no milestone… at least not positive.
The AI train, the main culprit?
It is clear that Intel has missed the AI train and it is going to be very difficult for them to catch it again, especially given the advantage that other competing companies are taking from them, and this is a very important point because… well , because you know, it’s the trendy topic, right? Everyone knows that NVIDIA has taken the lead in this area (with permission from TSMC, who got involved even before), and although we all expected that a company with the importance, budget and renown of Intel would immediately take behind, in reality it was not like that.
Arriving late to this demanded market has been very expensive for Intel, because in addition to the 16.6 billion losses that we have mentioned (well, you know how this is, that “losses” must be put in quotes) Intel’s shares also fell considerably in pursuit of its competition. However, despite all their efforts and marketing campaigns claiming that their processors were the best for AI, the problems in the manufacturing nodes have really taken their toll, and the fact is that… no, they are not in that market at all.
We’ll see what happens now with the new management in the company, but the truth is that we find it quite sad because Gelsinger’s project looked good, and they haven’t even let him carry it out during a “legislature” (which lasts 4 years). ). It seems to us that they have kindly “invited” him to leave, I don’t know about you.
