"The board has formed a search committee and will work diligently and expeditiously to find a permanent successor to Gelsinger," said Intel, in its statement.
"On behalf of the board, I want to thank Pat for his many years of service and dedication to Intel across a long career in technology leadership. Pat spent his formative years at Intel, then returned at a critical time for the company in 2021," said Yeary.
"As a leader, Pat helped launch and revitalise process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working tirelessly to drive innovation throughout the company."
Even so, the company has found itself on the back foot, having struggled to keep pace with the growing demand for AI-enabling chipsets and has seen its market share decrease during Gelsinger's tenure.
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