Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday in a surprise announcement. Two company executives, David Zinsner and Michelle Johnston Holthaus, will act as interim co-CEOs while the company searches for a replacement for Gelsinger, who also stepped down from the company's board.

Intel Chief Executive Pat Gelsinger retired abruptly, ending a nearly four-year run that saw the chip maker fall behind rivals in building semiconductors to power the artificial-intelligence boom.The company on Monday said it named Chief Financial Officer David Zinsner and Michelle Johnston Holthaus,

Intel announced Monday that CEO Pat Gelsinger had retired from the company effective Dec. 1. Intel CFO David Zinsner and Intel products CEO MJ Holthaus were named interim co-CEOs. Frank Yeary will serve as interim executive chair.