"I think the board made a decision or overruled a decision that Gelsinger thought was a bad one and he was out - likely related to the splitting Foundry from the design company." Patrick Moorhead, chief analyst at Moor Insights and Strategy, told The Register. "Something happened in the last week."
"I think people are missing the speed at which this went down. They backdated the announcement. He retired on December 1; it goes on December 2, right? He's not on the board. He's not an advisor... There is a hard separation between the board and Pat."
While Intel would never admit it, it wouldn't be the first time the board had lost faith in its chief exec. Former CEO Bob Swan's time at Intel ended rather abruptly in early 2021 amid pressure from activist investors and mounting pressure from competitors.
Gelsinger's return to Intel in January 2021, came as the chipmaker faced mounting pressure from rivals - most notably AMD, which has been steadily stealing market share from the x86 giant - as well as activist investors unhappy with its financial trajectory.
Collection
[
|
...
]