Intel CEO Pat Gelsinger resigns amid struggles, shares up 5 per cent in premarket trading

Intel’s chief executive officer, Pat Gelsinger, stepped down after nearly four years leading the semiconductor company, Intel announced Monday, a surprise leadership change as the chipmaker has struggled in recent months.

Gelsinger, who took the helm in 2021, also resigned from the company’s board of directors. He will be replaced in the interim by two Intel executives, David Zinsner and Michelle Johnston Holthaus. The company said it would continue its search for permanent replacements.