AI transformation difficulties, performance loss, market cap shrinks by nearly half, intel CEO "forced" to retire, stock price surges nearly 6%.
Pat Gelsinger, the CEO who worked at intel for over 40 years, officially retired on December 1st, Eastern Time. During his nearly four-year tenure, despite intel's ambitious plans, the market position continued to decline. The board of directors lost confidence in his ability to turn the situation around and ultimately gave him the choice of retiring or being dismissed, with Gelsinger opting to end his career at intel. Following the announcement, intel's stock price surged more than 5.7% during trading on Monday.
Intel (INTC.US) CEO Kissinger retires. Analysts are bullish on the new leadership bringing transformative opportunities.
Recently, intel announced that its CEO Pat Gelsinger will resign from his leadership position, a change that has garnered widespread attention in the investment community.
Express News | The China Semiconductor Industry Association: USA chip products are no longer safe and reliable; relevant industries in China will have to be cautious in procuring American chips.
Express News | The China Association of Automobile Manufacturers: To ensure the security and stability of the automotive industry chain and supply chain, it is recommended that Chinese auto companies be cautious in purchasing chips from the USA.
Express News | The china internet association calls on domestic enterprises to proactively take countermeasures and carefully choose to purchase usa semiconductors.
Express News | Analyst: CEO's resignation may increase the possibility of intel divesting its manufacturing business.