Intel bombshell! CEO Krzanich forced to retire by the board, leading Intel's failed transformation to be labeled as a culprit

robot
Abstract generation in progress

Pat Gelsinger, CEO of Intel (Intel), was forced to retire on the 2nd after the board of directors lost confidence in its plan to turn the company around, ending a nearly 4-year term, leaving the technology pioneer facing more turmoil, and as he was forced to step down, the new successor was also followed. (Synopsis: Intel is not saved? The 15th-generation CPU was "more than 104% performance" by AMD 9800X3D Blue Empire Fall) (Background supplement: Huida replaced Intel as a component of the Dow Jones Index; Intel Q3 hit the largest loss in history) Intel (Intel), a major semiconductor manufacturer in the United States, announced on the 2nd that CEO Pat Gelsinger has retired from the company, effective from the 1st, CFO David Zinsner and executive vice president Michelle Johnston Holthaus will serve as interim co-CEOs, during which the board will look for Kissinger's successor, independent chairman of the board of directors Frank Yeary Will serve as interim Executive Chairman. According to Bloomberg, people familiar with the matter said that Kissinger met with the board of directors last week to discuss the company's progress in regaining market share and narrowing the gap with Huida, and the conflict between the two sides reached a peak, he was asked to choose between retirement or dismissal, and finally he chose to announce the end of his career at Intel. From savior to war criminal Once seen as the savior of the chip giant, Kissinger expressed his love for the company and promised to return Intel to the lead in the semiconductor industry when he took office three years ago, having worked at Intel as a teenager but leaving in 2009 to become VMware CEO. After returning in 2021, he promised to let Intel regain its leadership in manufacturing after losing to competitors such as TSMC, but it was clear that it did not achieve effective results, and the company's business became weaker. As for the stock price, Intel investors initially welcomed Ji Singer's departure, and the stock price rose as much as 6% on Monday, but then the stock price retreated after the mood dissipated, closing down 0.5% to $23.93, a cumulative decline of 52% so far this year. As part of his recovery strategy, Tysinger laid out costly plans to expand Intel's factory network, including the construction of a large chip factory in Ohio, which received federal funding from the Chips and Science Act. Intel released a dismal second-quarter earnings report in August, many important indicators were lower than analysts' expectations, suspended dividends for the first time since 1992, and announced plans to cut 15% of employees, and then Intel announced its third-quarter earnings in early November, with a loss of $16.6 billion in a single quarter, the worst loss in history. Mr. Kissinger's successor will face the same problems he failed to address, including the consequences of his predecessor's poor decisions, and it may not be easy to find a successor. Before Mr. Kissinger was appointed to replace former CEO Bob Swan, many Wall Street sources speculated that some high-profile executives might be candidates, such as suggesting that AMD CEO Su Zidong be contacted. There is currently no obvious successor within Intel, Rosenblatt Securities analyst Hans Mosesmann said: A new foreign CEO will take years to adapt, which is a difficult task in the current fierce innovation cycle. Related reports CZ urgent appeal: Macs equipped with Intel chips have major vulnerabilities, update as soon as possible to protect the security of your assets The US government "supports Intel" to promote the localization of AI chips, Huang Jenxun: TSMC is very good, but not the only Huang Jenxun smiled! In response to AMD, Intel formed an x86 alliance against Nvidia and Arm: they did a good job 〈Intel Shock Bomb! CEO Kissinger was forced to retire by the board of directors and led Intel's transformation to become a war criminal" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)