Intel is exploring the possibility of appointing an external candidate as its next CEO, a move that would break with the company’s long-standing tradition of promoting from within.
The chipmaker has enlisted executive search firm Spencer Stuart to identify potential successors following the abrupt departure of CEO Pat Gelsinger.
The Search Process
Interim executive chair Frank Yeary and a board-level committee are overseeing the CEO search process.
Executive search firm Spencer Stuart has been hired to assist in identifying candidates.
Among the potential external candidates reportedly under consideration is Marvell CEO Matt Murphy.
Internal candidates include Intel CFO David Zinsner and products chief MJ Holthaus, who are currently serving as interim co-CEOs.
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Potential Break from Tradition
While Intel has occasionally looked outside for leadership—such as former CEO Bob Swan, who was ultimately seen as a transitional figure—the company has predominantly promoted leaders with deep internal experience.
Gelsinger himself, hired from VMware in 2021, was a former Intel executive who returned to the company after decades of service in various roles.
Intel’s board has also reportedly approached former director Lip-Bu Tan to gauge his interest in the position.
Tan’s involvement in the process was first reported by Reuters, though he has not publicly commented on the matter.
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Leadership Transition
The leadership change comes as Intel continues to face challenges in catching up industry leader Nvidia.
The board’s decision to part ways with Gelsinger reflects diminishing confidence in his ability to deliver a successful turnaround for the company.
Gelsinger will receive approximately $10 million in severance, according to a regulatory filing.
Zinsner and Holthaus have taken on interim co-CEO responsibilities while the search continues.
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Strategic Implications
Intel’s next CEO will face significant challenges, including:
- Closing the gap with Nvidia and other industry leaders in high-performance chips.
- Revitalizing Intel’s product pipeline and improving operational efficiency.
- Navigating supply chain issues and increasing competition in the semiconductor industry.
Looking Ahead
The search for a new CEO remains in its early stages, and it is unclear whether Intel will ultimately choose an external or internal candidate.
The decision is likely to have lasting implications for the company’s strategic direction and its ability to regain a competitive edge in the fast-evolving semiconductor market.
