Intel's recent struggles include suspending dividends, delaying factory construction, and drastic cost-cutting measures. Read why INTC stock is a long-term Buy.

Intel’s shares rose 5% Monday after the company announced the 63-year-old Gelsinger, who began his career at the chipmaker in 1979, had retired from the position of chief executive and also stepped down from the board of directors.

Pat Gelsinger's departure leaves Intel at a crossroads, forcing the company to confront cultural stagnation, x86's decline, and growing competition from Arm, AI, and TSMC. Here's what could come next.

Intel has announced that CEO Pat Gelsinger is retiring. David Zinsner and Michelle Johnston Holthaus have been named interim Co-CEOs

Computer chip maker Intel announced the retirement of chief executive Pat Gelsinger on Monday, raising new questions about the company’s future even as the United States is set to give it billions of dollars to build up the country’s ability to manufacture chips at home.

(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.

Intel Corp.’s ousted Chief Executive Officer Pat Gelsinger, who was forced out after the board lost confidence in his plans to turn around the iconic chipmaker, is set to receive as much as $10 million in severance pay.

It’s been a quiet few news days as everyone seemingly parses deals from Black Friday through to Cyber Monday. But there’s always time for a shock announcement: Pat Gelsinger is retiring after over 40 years at the company and close to four years at the chip manufacturer’s helm.

Pat Gelsinger’s resignation might open some options for Intel, but the chip maker's struggles with manufacturing technology and market shifts remain significant. Find out more: