News JVTech After the departure of Intel’s CEO, what future for the company?
Published on 04/12/2024 at 6:30 p.m.
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This end of the year for Intel is particularly complicated. Between the release of the new Core Ultra processors which disappoint, the problems linked to the 13th and 14th generation Core i7 and i9… the company must now face the resignation of its CEO.
Intel is looking for a new permanent CEO
CEOs resigning from their companies is nothing exceptional, but as far as Intel is concerned, the news really doesn’t bode well. This is another hard blow for the American firm. Indeed, Pat Gelsinger was behind what made the company shine the mostand many counted on him to stand up to his competitors who were taking more and more market share.
Despite everything, in recent years, Intel has found itself faced with several major problems weakening its stability. Some recent processors crashed for no apparent reason and the latest Core Ultra, supposed to improve the situation, turned out to be disappointing compared to AMD’s Ryzen 9600X3D.
Pat Gelsinger’s immediate departure is not limited to his role as general manager. The former executive is also leaving his seat on Intel’s board of directors. To ensure the transition, David Zinsner and Michelle Johnston Holthaus have been named interim co-directors of the group.
This provisional nature attracts attention, suggesting that Gelsinger’s departure was hasty. No permanent replacement has yet been appointed. In its press release, Intel indicates that a “search committee” has been formed to diligently and quickly identify a permanent successor.
A stock market valuation halved in one year
The loss of its CEO is a hard blow for Intel, which must now find a solution to get back on its feet and find a permanent successor as quickly as possible.
Pat Gelsinger takes the reins of Intel in January 2021 with the ambition of revitalizing the company and better coping with the rise of rivals such as AMD, Apple or Qualcomm. These competitors have, over the past four years, gradually gained market share at the expense of Intel.
Source : Intel
Under Gelsinger’s leadership, the company decided, for the first time, toopen its foundries to external customersthus engaging in partial competition with the Taiwanese giant TSMC. Moreover, thanks to the support of the Biden administrationIntel has launched several initiatives aimed at strengthening its semiconductor production capabilities in the United States.
The disappointment with Core Ultra only strengthens the sword of Damocles that hangs over the American company. Especially sincein just 1 year, Intel saw its stock market value halvedand its absence in the AI segment is probably not unrelated.
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