Intel CEO Appears to Have Been Pushed Out -- Market Talk

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Intel CEO Appears to Have Been Pushed Out -- Market Talk

Dow Jones12-03

1239 ET - Pat Gelsinger appears to have been pushed out as CEO of Intel, based on the back-dated retirement and effective-immediately note in his departure announcement this morning, Edward Jones analyst Logan Purk says in a research note. They think the chipmaker's continued execution issues and lack of major customers for its Foundry business were likely factors. Given that the Foundry and Intel Products units have their own leadership, an external candidate will likely be picked to replace Gelsinger so that Intel's leadership structure remains intact, the analysts say. They see more roadblocks ahead for Intel, even if a new CEO is able to inject some optimism into the beleaguered company. (dean.seal@wsj.com)

(END) Dow Jones Newswires

December 02, 2024 12:39 ET (17:39 GMT)

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