Group in crisis

Intel boss Gelsinger resigns unexpectedly

The head of the stumbling Intel Group, Pat Gelsinger, has unexpectedly resigned. The manager left the company on December 1 and has thus resigned from the board, the semiconductor giant announced on Monday in Santa Clara in the US state of California.

Until a successor is found, the dual leadership of David Zinsner and Michelle Johnston Holthaus will manage Intel's business. Zinsner is currently responsible for the finance department, while Holthaus will take over the management of several Intel divisions in a newly created position.

Turbulent times
Gelsinger is leaving Intel in the midst of turbulent times. The manager returned to Intel in 2021 as a reorganizer and had since tried to revamp the company with new technologies and plants while simultaneously cutting costs. According to earlier information, around 15,000 jobs, or around 15 percent of the workforce, are to be cut.

As part of the cost-cutting measures, the company also decided last quarter to postpone the construction of a chip factory in Germany, which is expected to cost billions, by two years.

Intel once dominated the semiconductor market, but has been struggling with problems for years. Graphics card specialist Nvidia has conquered a leading position, particularly in the business with chips for artificial intelligence.