Intel announced today that Patrick P. Gelsinger, Chief Executive Officer, is retiring from the company and stepping down from the Board of Directors, effective December 1, 2024, after a distinguished career of more than 40 years. Intel has appointed two senior executives, David Zinsner and Michelle Johnston Holthaus, as interim co-CEOs, while the Board searches for a new CEO. Frank Yary, Independent Chairperson of Intel's Board of Directors, will serve as interim executive chairperson during the transition period. Intel Foundry's leadership structure remains unchanged. The board has formed a committee that will work hard and quickly to find a permanent successor to Patrick Gersinger.