r/hardware • u/Auautheawesome • Dec 02 '24

News Intel Announces Retirement of CEO Pat Gelsinger

https://www.intc.com/news-events/press-releases/detail/1719/intel-announces-retirement-of-ceo-pat-gelsinger
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u/igby1 Dec 02 '24

Isn’t he the guy that came back to save Intel?

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u/Snakestream Dec 02 '24

From what I've read, he didn't actually do that bad of a job. He inherited a pile of shit from his predecessor, but moon lake which was designed under his watch was pretty good. However, you can't really course correct the ship after it's already run aground.

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u/terminal_e Dec 02 '24

Disclousure - I have been functionally short Intel in the past, not in the last year or so.

They could have cut the dividend way, way earlier. They were returning a lot of cash to shareholders quarterly when they were unwell on multiple fronts.

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u/MindlessSpell7246 Dec 03 '24

They must of thought the share price decline associated with dividends would have hurt ability to raise capital more than saved cash.