Intel’s CEO steps down

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By Emma W. Thorne, Editor at LinkedIn News

Intel CEO Pat Gelsinger has retired, the company announced Monday. Current execs David Zinsner and Michelle Johnston “MJ” Holthaus will serve as interim co-CEOs until a new chief is named. Gelsinger, who joined Intel in 1979, called the moment “bittersweet,” adding that his years at the top were “the honor of my lifetime.” Intel has faced intense headwinds of late, notching a record net loss of nearly $17 billion last quarter and losing its place on the Dow Jones Industrial Average. Its stock is down more than 50% this year.