Intel Announces CEO Resignation and Interim Leadership Appointments

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In connection with his resignation, Intel entered into a Retirement and Separation Agreement with Gelsinger, detailing his severance payment. Simultaneously, Michelle Johnston Holthaus and David Zinsner were appointed as Interim Co-Chief Executive Officers, with Holthaus also taking on the role of CEO for Intel Products. The Board of Directors has initiated a search for a permanent CEO and appointed Frank Yeary as interim Executive Chair. A press release dated December 2, 2024, furnished pursuant to Regulation FD, announced these changes.

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About Intel Corporation

Intel Corporation is a multinational corporation and technology company known for its semiconductor products. As a leader in the global semiconductor industry, Intel primarily focuses on designing and manufacturing products like microprocessors, integrated graphics, and other computing components. These semiconductors are vital for the functioning of computers, laptops, and various consumer electronic devices. Intel's products play a crucial role in fields such as data centers, computing solutions, Internet of Things (IoT), and more. The company’s innovations in semiconductor design have significant implications for technology advancement, impacting industries ranging from personal computing to automotive technology. Founded in 1968 and headquartered in Santa Clara, California, Intel Corporation has been a pivotal player in pioneering advances in technology infrastructure worldwide, continuously pushing the boundaries of processing power and efficiency to support consumer electronics and enterprise technology needs.