Intel's recent struggles include suspending dividends, delaying factory construction, and drastic cost-cutting measures. Read why INTC stock is a long-term Buy.

Computer chip maker Intel announced the retirement of chief executive Pat Gelsinger on Monday, raising new questions about the company’s future even as the United States is set to give it billions of dollars to build up the country’s ability to manufacture chips at home.

Intel Corporation CEO Pat Gelsinger's sudden retirement stuns markets, sparking speculation of a rift and potential foundry spin-off. Click for our INTC update.

(Reuters) -Chipmaker Intel said on Monday CEO Pat Gelsinger retired from the chipmaker, effective Dec. 1. The company named CFO David Zinsner and senior executive Michelle Johnston Holthaus as interim co-chief executive officers while its board conducted a search for a new CEO.

The chipmaker is considering at least two people outside the company to replace former CEO Pat Gelsinger, who abruptly retired on Sunday.

Intel Corp.’s search for a new chief executive officer will focus heavily on outsiders, with the chipmaker considering candidates such as Marvell Technology Inc. head Matt Murphy and former Cadence Design Systems Inc.

Intel may have ousted CEO Pat Gelsinger, but he’s leaving the company with a significant payday. He’s set to receive 18 months of his base annual salary of $1.25 million, according to a filing with the Securities and Exchange Commission.

Intel's CEO exit reignites discussions on splitting off factories, with questions about financial recovery and CHIPS Act funding.