And now its CFO is tasked with helping to keep the company afloat. David Zinsner, EVP and CFO, and Michelle (MJ) Johnston Holthaus, CEO of Intel Products, will serve as interim co-chief executive officers while the board of directors searches for a new CEO.

Interim Intel co-CEO David Zinsner said on Wednesday that the chipmaker’s “core strategy remains intact” and offered further clarification on what its board is seeking.

Shake up in Silicon Valley. Intel CEO Pat Gelsinger announces immediate retirement with the company naming two interim co-CEOs to lead the chipmaker. He started at Intel in 1979 and was its first chief technology officer.

Zinsner is executive vice president and chief financial officer at Intel. Holthaus was appointed to the newly created position of CEO of Intel Products, which includes the client

Intel will have a CEO with manufacturing expertise as well as experience in the product side of the business, interim co-CEO David Zinsner said at the UBS technology conference on Wednesday. Reuters reported on Tuesday that Intel has started evaluating a handful of outsiders including former board member Lip-Bu Tan to take the reins of the struggling chipmaker.

Intel's CEO exit reignites discussions on splitting off factories, with questions about financial recovery and CHIPS Act funding.

Can anyone genuinely rescue Intel from its current predicament? The company's missed mobile and AI chips opportunities have left it playing catch-up in critical markets.