Intel has appointed two senior executives as interim co-CEOs as it searches for a new CEO: David Zinsner and Michelle (MJ) Johnston Holthaus. Zinsner currently serves as the company’s chief financial officer, while Holthaus has been named to the newly created position of CEO of Intel Products. The new role covers Intel’s Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX).

In addition, Intel chairman Frank Yeary will serve as interim chairman during the transition.

CEO Gelsinger’s departure and Intel’s future

Intel’s board of directors has established a committee to accelerate the search for a new CEO. Chairman Yeary thanked Gelsinger for his contributions to Intel throughout his career, saying:

“Pat led Intel through one of the most critical periods. He focused on restructuring the company by driving innovation in semiconductor manufacturing. However, there are still many challenges ahead.”

With the appointment of Holthaus as CEO of Intel Products, it was emphasized that product groups will have the resources to meet customer expectations. Yeary stated that Intel will focus on production and product leadership in the future, and that the company will transform into a leaner, simpler and more agile structure.