• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
TechIntel

A month before Intel CEO’s surprise exit, former board members warned that the iconic chipmaker had only one option to save itself

By
Jenn Brice
Jenn Brice
Down Arrow Button Icon
By
Jenn Brice
Jenn Brice
Down Arrow Button Icon
December 2, 2024, 3:46 PM ET
Intel CEO Pat Gelsinger, left, said Monday he is stepping down.
Intel CEO Pat Gelsinger, left, said Monday he is stepping down.Alex Wong—Getty Images
Add Fortune on Google for similar content.

A little more than a month before Intel CEO Pat Gelsinger announced his sudden retirement on Monday, four of the company’s former board members wrote a public letter warning that the iconic U.S. chip giant was running out of time to turn its business around and urged the company to split itself into two.

In an op-ed published by Fortune in October, the board members said that splitting Intel into two companies—one focused on designing its own microprocessors, the other a “foundry” to manufacture chips for other companies—was the only way to “stem the bleeding” and ensure that the most advanced chips continue to be manufactured in America.

“Intel’s CEO, Pat Gelsinger, is a true technologist who played an important role in the company’s storied past. Today, he’s faced with a difficult decision: whether to break up the iconic company. He already announced a plan to establish Intel Foundry as an independent subsidiary inside Intel. But this doesn’t go far enough,” the former directors wrote, calling instead for Intel to split design and manufacturing businesses into two entirely separate companies.

Gelsinger made it his mission to revive Intel as a leading manufacturer when he returned to the company as CEO in 2021, after a stint leading VMWare. When he took the job, Intel was grappling with manufacturing problems that had caused it to lose its lead to Taiwan’s TSMC in terms of producing the most advanced chips. Meanwhile, demand for AI-optimized chips made by Nvidia have eaten into Intel’s sales.

The U.S. government has committed nearly $8 billion in grants to Intel through the CHIPS Act.

In their October op-ed, the former board members—David B. Yoffie, Reed Hundt, Charlene Barshefsky, and James Plummer—said that the U.S. government should make its financial assistance contingent on Intel splitting itself into two companies.

“The government has the leverage to force Intel down a better path—and it must use it now.”

While the full details surrounding Gelsinger’s surprise exit have yet to be reported, the open letter from the former Intel directors provide a valuable glimpse at the challenges facing the CEO in his final weeks at the company.

You can read the letter from Intel’s former board members here

About the Author
By Jenn Brice
LinkedIn icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Dell’s AI boom is real, but so is the profit margin hit nobody is pricing in
AIDell Technologies
Dell’s AI boom is real, but so is the profit margin hit nobody is pricing in
By Mia OsmonbekovJune 30, 2026
11 hours ago
Image of colored bar charts with one being pushed up.
NewslettersEye on AI
AI is minting billion-dollar companies faster than before
By Beatrice NolanJune 30, 2026
13 hours ago
Anthropic CEO Dario Amodei pointing to his head.
AIAnthropic
At the heart of Anthropic’s clashes with the U.S. government, a decision not to play by the new rules of Trump’s Washington
By Jeremy KahnJune 30, 2026
17 hours ago
wb
CommentaryLeadership
I grew BDO from $600 million to $3.4 billion. Here’s the 3-part formula that made it possible
By Wayne BersonJune 30, 2026
18 hours ago
vinod
CommentaryData centers
Vinod Khosla: AI’s energy crisis has a fix — and it doesn’t need the grid
By Vinod KhoslaJune 30, 2026
18 hours ago
Jamie Dimon isn’t giving up the top job. That’s turned JPMorgan into a poaching ground for CEO talent
C-SuiteNext to Lead
Jamie Dimon isn’t giving up the top job. That’s turned JPMorgan into a poaching ground for CEO talent
By Ruth UmohJune 30, 2026
18 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
AI
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
By Catherina GioinoJune 29, 2026
1 day ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
19 hours ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.