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Intel CEO forced out by board frustrated with slow progress

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Intel Corp. Chief Executive Officer Pat Gelsinger was forced out after the board lost confidence in his plans to turn around the iconic chipmaker, adding to turmoil at one of the pioneers of the technology industry.
The article from Gulf News discusses the abrupt departure of Intel's CEO, Bob Swan, who was ousted by the company's board due to dissatisfaction with the pace of Intel's progress in regaining its competitive edge in the semiconductor industry. Intel, once a dominant force in chip manufacturing, has been facing challenges from rivals like AMD and TSMC, particularly in terms of production delays and technological advancements. The board's frustration stemmed from Intel's slow response to these competitive pressures, including delays in new chip releases and manufacturing processes. Swan, who had been Intel's CEO since January 2019, was replaced by Pat Gelsinger, a former Intel executive, in an effort to steer the company back to its former glory. The move reflects the board's urgency to address Intel's strategic missteps and to accelerate its turnaround strategy in a rapidly evolving tech landscape.

Read the Full Gulf News Article at:
[ https://gulfnews.com/business/markets/intel-ceo-forced-out-by-board-frustrated-with-slow-progress-1.1733243615674 ]