Pat Gelsinger, who led Intel since 2021 and played a crucial role in revitalizing the company, has stepped down after a significant 40-year career with the firm.
Alongside Zinsner and Holthaus taking over as interim co-CEOs, the search for Intel's new CEO reflects a pivotal transition amid ongoing challenges in the semiconductor industry.
The Biden administration's decision to reduce part of Intel's $8.5 billion funding underscores the complexities facing tech companies, particularly in regard to government support and military contracts.
Intel's recent layoffs of 15,000 employees reveal the company's attempt to restructure in response to market pressures and to secure its position in a competitive sector.
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