Intel Appoints Interim Co-CEOs Amid Leadership Transition
Intel Corporation has announced the retirement of CEO Pat Gelsinger, effective December 1, 2024, marking the end of his illustrious career spanning over 40 years. Gelsinger has also stepped down from the company’s board of directors, leaving behind a legacy of innovation and strategic growth.
In a statement, Intel revealed the appointment of David Zinsner and Michelle Johnston Holthaus as interim co-CEOs while the company undertakes a global search for a permanent successor. Holthaus will additionally assume the newly established role of CEO of Intel Products, overseeing the Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX). Meanwhile, Frank Yeary, independent chair of Intel’s board, has been named interim executive chair to guide the company through this leadership transition.
Leadership Transition Focuses on Innovation and Product Excellence
Frank Yeary expressed gratitude for Pat Gelsinger’s contributions, stating, “Pat has been a transformative leader, steering Intel through critical phases and advancing semiconductor manufacturing capabilities. While his departure marks the end of an era, the board is committed to building on the foundation he laid to restore investor confidence and achieve operational excellence.”
Yeary highlighted the importance of the product group in Intel’s strategy, noting that Holthaus’ elevation as CEO of Intel Products ensures the company remains customer-centric. He emphasized Intel’s focus on advancing manufacturing capabilities, simplifying its product portfolio, and optimizing expenses to position the company for long-term success.
Pat Gelsinger Reflects on His Legacy
Reflecting on his tenure, Pat Gelsinger stated, “Leading Intel has been the honor of my lifetime. While this is a bittersweet moment, I am proud of the strides we’ve made together. This year has been challenging, but the decisions we made were necessary to align with market dynamics.”
Pat Gelsinger joined Intel in 1979 and made significant contributions across various roles, including serving as the company’s first Chief Technology Officer. Under his leadership, Intel achieved groundbreaking innovations, cementing its role as a global technology leader.
Experienced Leaders Stepping In
David Zinsner and Michelle Johnston Holthaus, the newly appointed interim co-CEOs, bring decades of industry experience to their roles.
- David Zinsner joined Intel in January 2022 and has over 25 years of financial and operational expertise in semiconductors and technology. Previously, he held leadership roles at Micron Technology, Affirmed Networks, and Analog Devices.
- Michelle Johnston Holthaus has been with Intel for nearly three decades and is recognized for her strong leadership and customer-focused approach. Before her current role, she served as general manager of CCG, chief revenue officer, and lead of Intel’s Sales and Marketing Group.
In a joint statement, Zinsner and Holthaus affirmed their commitment to continuing Pat Gelsinger’s vision, stating, “We are dedicated to advancing Intel Products and ensuring our customers’ needs remain at the forefront.”
Intel’s Future Vision
As Intel undergoes this transition, the company’s focus remains on driving innovation, enhancing manufacturing competitiveness, and delivering value to customers and investors. With a robust interim leadership team and a clear strategic direction, Intel aims to solidify its position as a global technology leader.