Intel CEO Pat Gelsinger retires after tumultuous tenure leading the chip giant

Intel (INTC) announced Monday that CEO Pat Gelsinger retired on Sunday, stepping down from his post leading the company and a spot on the company’s board of directors.

Gelsinger joined the company in 2021 from VMware.

During Gelsinger’s tenure, Intel stock has been a laggard during a period in which tech stocks led the market higher and the AI boom catalyzed a new wave of enthusiasm in the space.

Year-to-date, Intel stock is down over 50%; the S&P 500 is up 26%.

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