Intel CEO Pat Gelsinger leaves after given two choices by the Board: Retire or be …

In a surprising move, Intel announced that CEO, Pat Gelsinger has retired. In a statement, the struggling chipmaker said that Gelsinger’s retirement is effective immediately, which is December 1. Reports suggest that Intel CEO Gelsinger has been forced out. The decision, made by the company’s board of directors, comes amid growing concerns about the chipmaker’s ability to regain market share and compete with rivals like Nvidia. According to a report in Bloomberg, the board’s loss of confidence in Gelsinger’s leadership was triggered by a meeting last week where the company’s performance and future plans were discussed. Gelsinger was given the option to resign or be removed, ultimately choosing to step down.