This morning, CNBC noted that Intel CEO Pat Gelsinger retired. The company’s stock, down 52 percent for the year, bounced 5 percent in premarket trading. Gelsinger’s exit isn’t shocking, given Intel’s struggles of late,

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 Intel's interim executive chair.

Intel CEO Pat Gelsinger has retired from the company as its challenges in CPU design and competition continue to mount.