What’s Next for Intel After CEO’s Exit and Multibillion-Dollar Losses

In 2024, Intel may record its first annual loss since the 1980s.

Intel CEO Pat Gelsinger speaks during a panel session of the World Economic Forum in Davos, Switzerland, on May 25, 2022. Hollie Adams/Bloomberg via Getty Images

Intel Corp. announced its now former CEO Pat Gelsinger, who spent most of his more than 40-year career with the Santa Clara, California-based semiconductor manufacturer, had retired on Dec. 1.

Gelsinger, who took over as Intel’s chief executive in February 2021, pushed it to begin making chips for other semiconductor companies while simultaneously designing and manufacturing its own chips. His plan cost billions and has yet to deliver results.