"Today is, of course, bittersweet as this company has been my life for the bulk of my working career," Gelsinger said in a statement.
"When a CEO is replaced, when there hasn't been a significant scandal or some whiff of wrongdoing, they'll retain their seat on the board, even if it's a kind of ceremonial position," Pozner says.
"Removing Gelsinger from the board...seems like adding insult to injury," says Pozner.
"Companies often choose to make big statements like this because they know Wall Street will respond favorably, it’s a signal that the company is serious about a strategic change in direction," Pozner explains.
Collection
[
|
...
]