Intel CEO Pat Gelsinger forced out in surprise move

The departure of Gelsinger, whose career spanned more than 40 years, underscores the turmoil at Intel. Intel chief executive Pat Gelsinger has been forced out less than four years after taking the helm of the company, handing control to two lieutenants as the faltering United States chipmaking icon searches for a permanent replacement. The resignation came after a board meeting last week during which directors felt Gelsinger’s costly and ambitious plan to turn Intel around was not working and the progress of change was not fast enough, the Reuters news agency reported, citing a person familiar with the matter. His departure comes well before the completion of his four-year roadmap to restore the company’s lead in making the fastest and smallest computer chips, a crown it lost to Taiwan Semiconductor Manufacturing Co, which makes chips for Intel rivals such as Nvidia. “As a leader, Pat helped launch and revitalize process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working tirelessly to drive innovation throughout the company.” Gelsinger’s departure comes as Intel’s financial woes have been piling up.