Intel CEO Pat Gelsinger has retired after almost four years leading the tech corporation, with his exit coming amid a steady decline in the company’s revenues and share value.
Gelsinger was appointed as Intel’s CEO and became a member of the company’s board of directors in February 2021. He stepped down from these posts effective Sunday, according to a Dec. 2 statement from Intel. Gelsinger’s time as CEO has been a financially tumultuous time for the corporation. Quarterly revenues peaked at $20.5 billion in the fourth quarter of 2021 and have been on a decline ever since. For the most recent quarter, revenues were at $13.28 billion, more than 35 percent lower than the 2021 fourth-quarter peak.
