The CEO of the American semiconductor giant Intel, Pat Gelsinger, was forced to announce his retirement on the 2nd after losing the board's confidence in his plan to turn around the company's situation, ending nearly four years of tenure, leaving this tech industry pioneer facing more turmoil. With his forced departure, much attention is also focused on who his successor will be. (Background: Intel is doomed? 15th generation CPU outperformed by AMD 9800X3D by over 104%. The fall of the blue empire.) (Additional context: Nvidia has replaced Intel as a component of the Dow Jones index; Intel reported its largest loss in history in Q3.) Intel announced on the 2nd that CEO Pat Gelsinger has retired from the company, effective from the 1st. CFO David Zinsner and Executive Vice President Michelle Johnston Holthaus will serve as interim co-CEOs while the board searches for Gelsinger's successor, and the board's independent chairman Frank Yeary will serve as interim executive chairman. According to Bloomberg, insiders revealed that Gelsinger met with the board last week to discuss the company's progress in regaining market share and narrowing the gap with Nvidia. The conflict peaked, and he was asked to choose between retirement or dismissal, ultimately opting to announce the end of his career at Intel. From Savior to War Criminal Gelsinger was once seen as the savior of this chip giant. When he took office three years ago, he expressed his love for the company and promised to lead Intel back to being the leader in the semiconductor industry. He began working at Intel as a teenager but left in 2009 to become CEO of VMware. After returning in 2021, he promised to make Intel a leader in manufacturing again after losing to competitors like TSMC; however, it was clear that effective results were not achieved, and the company's business became increasingly weak. Regarding stock prices, Intel investors initially welcomed Gelsinger's departure, with stock prices rising by as much as 6% on Monday, but the sentiment soon dissipated, and the stock price fell, closing down 0.5% at $23.93, marking a cumulative decline of 52% this year. Uncertainty Around Successors Gelsinger attempted to lead Intel past its traditional advantages in personal computers and server processors, entering the foundry business, something Intel had never done, directly competing with TSMC and Samsung Electronics. As part of his recovery strategy, Gelsinger developed a costly plan to expand Intel's factory network, including building a large chip plant in Ohio, a project funded by the federal Chips and Science Act. Intel announced a dismal second-quarter earnings report in August, with several key indicators falling short of analyst expectations, marking the first dividend suspension since 1992, and announced plans to cut 15% of its workforce. Subsequently, Intel released its third-quarter earnings report in early November, showing a quarterly loss of $16.6 billion, setting the record for the worst loss ever. Gelsinger's successor will face the same issues he failed to resolve, including the consequences of his predecessor's poor decisions, and finding a successor may not be easy. Before Gelsinger was appointed to replace former CEO Bob Swan, many on Wall Street speculated about several high-profile executives who might be candidates, such as suggestions to approach AMD CEO Lisa Su. Currently, there is no obvious successor within Intel, with Rosenblatt Securities analyst Hans Mosesmann stating: A new external CEO would need years to adapt, and given the current intense innovation cycle, this is a formidable task. Related Reports CZ urgently calls: Macs equipped with Intel chips have significant vulnerabilities; update quickly to protect your asset security. The U.S. government supports Intel's push for AI chip localization; Jensen Huang: TSMC is great but not the only one. Jensen Huang laughs! Responding to AMD and Intel forming an x86 alliance against Nvidia and Arm: Their approach is quite good. "Intel Shockwave! CEO Pat Gelsinger is forced to retire by the board, leading Intel's transformation failure and becoming a war criminal." This article was first published on BlockTempo (Blockchain media with the greatest influence).