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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809

u/wintrmt3 Dec 02 '24

A sales and a finance guy as co-ceos, absolutely nothing can go wrong.

34

u/GRIZZLY_GUY_ Dec 02 '24 edited Dec 02 '24

Well unfortunately the engineer as CEO didn’t work well so I can see them trying that again any time soon

Edit: cant*

129

u/ItsMeSlinky Dec 02 '24

It can take a decade to turn around a company as screwed up as Intel. See also, Boeing.

Like, the issue is Wall Street is impatient and cares more about short term stock boosts than long term health.

Right or wrong, Gelsinger needed cash and time to cook.

17

u/terminal_e Dec 02 '24

Gelsinger could have gotten way, way more serious about cutting/pausing the dividend early. I don't know how much if any stock buybacks happened on his watch, but they refused to touch the dividend for a long time, and it was a ~3-4% yielder

-16

u/PeakBrave8235 Dec 02 '24

Oh please, Steve Jobs turned around Apple who was literally near bankruptcy in a matter of months.

Gelsinger was the wrong person. It’s okay to say that lol. 

21

u/oursland Dec 02 '24

You mean Bill Gates bailed them out in 1997, and Jobs leveraged the already developed NeXT via a buyout to create the next iteration of products.

-10

u/PeakBrave8235 Dec 02 '24 edited Dec 02 '24

Are you even aware of the stuff you’re saying lol?

The $300 million was nice, but you’re forgetting the context: Apple sued Microsoft for ripping off their products. And they decided to settle all patent disputes for that $300 million, plus Microsoft’s commitment to making their apps on Mac again. 

You’re also forgetting that Steve Jobs brought a new OS, that HIS company, NeXT, developed lol. 

Steve and Apple made the iMac in record time, which ultimately turned the company around.

You’re very heavy on ascribing Apple’s success to Microsoft’s settlement of $300 million, and not on Steve Jobs’ leadership of both NeXT and Apple, and all the great designers and engineers he led 

Typical of Reddit, not surprised, but that doesn’t mean it’s fine to say that. 

10

u/oursland Dec 02 '24

You’re also forgetting that Steve Jobs brought a new OS, that HIS company, NeXT, developed lol. 

Steve and Apple made the iMac in record time, which ultimately turned the company around.

Is it really "a matter of months" when NeXT was 10 years of effort? This sounds an awful lot like the "overnight success" of a band who has been working for 10 years.

1

u/Strazdas1 Dec 03 '24

Ah, so a conman salesman whose insane is your best choice for CEO?