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Events on Sunday 1 December 2024 1
2024Pat Gelsinger ousted — Intel in crisisPat Gelsinger resigns as Intel CEO on 1 December 2024 under pressure from the board — effectively fired after three years of declining revenues, manufacturing setbacks and a stock price that has fallen over 60% during his tenure. Intel's 18A process node — intended to restore process leadership by 2025 — has suffered yield problems. Intel's market capitalisation has fallen below $100 billion from a peak above $250 billion. CFO David Zinsner and product chief Michelle Johnston Holthaus become interim co-CEOs as the board searches for a permanent successor.