"While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence," Frank Yeary, the independent chair of Intel's board, said in a statement Monday.
"Only two and a half years later, Gelsinger is gone and the storied chipmaker is hemorrhaging cash and facing an uncertain future."
"Once the biggest chipmaker in the world, Intel has fallen out of the industry's top 10 companies by market capitalization, a list now led by Nvidia and TSMC."
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