Intel's CEO is stepping down as the stalwart American chipmaker has struggled to keep pace with the artificial intelligence revolution. The company announced that Pat Gelsinger, who'd led Intel since 2021 and logged more than 30 years in various positions with the chipmaker, had retired from the company effective Sunday.

Intel CEO Pat Gelsinger has retired, with David Zinsner and Michelle Johnston Holthaus named as interim Co-CEOs.

Intel’s chief executive officer retired effective immediately, the legacy Silicon Valley stalwart announced Monday, a shakeup that follows an extended period of stock market underperformance for the semiconductor chipmaker. Intel’s CEO Pat Gelsinger retired effective immediately Sunday.

Intel CEO Pat Gelsinger announced his retirement effective Sunday after a 40-year career, and has been replaced by two company leaders.

Intel on Monday announced the retirement of chief executive Pat Gelsinger. The move, which was effective Sunday, comes as the U.S. chipmaker struggles to keep up in the hypercompetitive semiconductor market and as its stock price has tumbled.

(Reuters) -Chipmaker Intel said on Monday CEO Pat Gelsinger retired from the chipmaker, effective Dec. 1. The company named CFO David Zinsner and senior executive Michelle Johnston Holthaus as interim co-chief executive officers while its board conducted a search for a new CEO.

Pat Gelsinger spent most of his career at Intel, then came back in 2021 to turn the company around. Now he says he’s retiring, effective immediately.

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