When Pat Gelsinger came back to Intel, hopes ran high that he would restore one of Silicon Valley’s most famous brands to its former glory. Only two and a half years later, Gelsinger is gone, and the storied chipmaker is hemorrhaging cash and facing an uncertain future.

Intel's (INTC) announcement this morning that Pat Gelsinger stepped down from leading the semiconductor giant should be followed up with radical change. Read for more.

Computer chip maker Intel announced the retirement of chief executive Pat Gelsinger on Monday, raising new questions about the company’s future even as the United States is set to give it billions of dollars to build up the country’s ability to manufacture chips at home.

Intel Chief Executive Pat Gelsinger has been forced out less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.

According to Intel’s press release, Gelsinger has stepped down from his position as CEO and from the board of directors after spending nearly 30 years at the company, which he f

Intel said Pat Gelsinger has retired and stepped down from the company’s board of directors.

By Max A. Cherney and Stephen Nellis (Reuters) -Intel Chief Executive Pat Gelsinger has stepped down less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.