Intel Searches for New CEO After Ousting Gelsinger

Intel is actively searching for a new CEO following the ousting of Pat Gelsinger, with former board member Lip-Bu Tan and Marvell Technology CEO Matt Murphy among the candidates being considered. The board has approached Tan to gauge his interest in the role, highlighting his respected status within the semiconductor industry. The decision to replace Gelsinger, who led the company for less than four years, stems from the board's assessment that the turnaround plan he implemented was progressing too slowly. A search committee has been formed, and a final decision on a successor is expected in the coming months. In the interim, Chief Financial Officer David Zinsner and senior executive Michelle Johnston Holthaus have been named co-CEOs. Despite the search being in its early stages, the process is closely watched due to the challenges Intel faces during a critical period in its history.