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Benzinga
Benzinga
Business
Adam Eckert

Intel CEO Pat Gelsinger Forced Out By Board, Analysts Cheer Potential Strategy Shift: 'This Move Opens The Door'

Patrick Gelsinger INTC Intel Corporation Ryan Detrick

Intel Corp (NASDAQ:INTC) CEO Pat Gelsinger announced his retirement on Monday. Reports indicate the Intel chief was forced out by Intel’s board, which had grown frustrated with Gelsinger’s turnaround progress.

What Happened: According to a Bloomberg report citing people familiar with the matter, Gelsinger was given the option to retire or be removed from Intel after the company’s board expressed its dissatisfaction with the company’s progress on winning back market share from Nvidia Corp (NASDAQ:NVDA).

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