Intel has announced a significant change in leadership as their CEO, Pat Gelsinger, steps down after a remarkable career spanning more than four decades. Gelsinger also resigned from Intel’s board of directors, effective December 1, 2024. During this transitional period, the company has appointed David Zinsner and Michelle “MJ” Johnston Holthaus as interim co-CEOs, while the board embarks on the search for a new permanent CEO.
David Zinsner, Intel’s executive vice president and chief financial officer, joins forces with Michelle Holthaus, who has been named CEO of Intel Products. This key segment includes the Client Computing Group, Data Center and AI Group, and Network and Edge Group. To support this transition, Frank Yeary, the independent chair of the board at Intel, will serve as interim executive chair.
The departure of Pat Gelsinger marks a pivotal moment for Intel. Frank Yeary expressed gratitude for Gelsinger’s dedication and pivotal contributions, stating, “On behalf of the board, I want to thank Pat for his many years of service and dedication to Intel across a long career in technology leadership.”
Under Gelsinger’s leadership, Intel made strides in semiconductor manufacturing, revitalizing process manufacturing and spearheading innovative initiatives. However, Yeary acknowledged, “We know that we have much more work to do at the company and are committed to restoring investor confidence.”
In preparation for the future, Holthaus’s elevation to CEO of Intel Products emphasizes the company’s focus on strengthening its product group. Yeary stated, “Our customers demand this from us, and we will deliver for them.” With an eye on the future, Intel aims to bolster its manufacturing capabilities and efficiency while improving profitability.
David Zinsner brings over a quarter-century of financial and operational expertise, honed through leadership roles in various tech companies, including Micron Technology. Meanwhile, Michelle Holthaus, a seasoned leader with Intel since 1996, has played crucial roles in management and leadership capacities, including executive vice president roles and general manager positions within the company.
As Intel transitions under the interim leadership of Zinsner and Holthaus, the company’s mission remains clear: to simplify and strengthen its product portfolio, advance manufacturing and foundry capabilities, optimize operations, and become a leaner, more agile tech pioneer. The search for Pat Gelsinger’s successor promises to be thorough and swift, ensuring Intel remains competitive and innovative in the industry.
