When Intel hired Gelsinger in 2021 to revive the chipmaker’s fortunes, he received a pay package that would have been worth as much as $206 million if he had met performance targets.

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.

On Monday, tech-giant Intel announced that its CEO Pat Gelsinger had resigned following a tumultuous tenure at the company.

Former Intel CEO Pat Gelsinger took to social media to invite people to pray and fast for the chipmaker's employees, saying the company is going through a "difficult period."

In a blow to Intel's turnaround plans, CEO Pat Gelsinger has resigned from the big chip maker without a permanent successor in place.

In the wake of Pat Gelsinger's retirement, Intel CFO David Zinsner and Intel Products CEO Michelle Johnston Holthaus will be stepping in as interim co-CEOs as Intel looks for replacements to succeed the veteran. Frank Yeary, an independent board chair, will be named interim executive chair.

Former Intel CEO Pat Gelsinger fasts every Thursday. He dedicated this week’s fasting to the Intel employees who now face a turbulent time due to the CEO’s exit.

Arm CEO Rene Haas expressed sadness over Intel's recent struggles, acknowledging the chipmaker's legacy as an innovation powerhouse. Haas questioned former CEO Pat Gelsinger's vertical integration strategy,

In a recent interview with the Verge, Rene Haas, CEO of Arm Holdings covered a wide array of topics including the AI PC race, politics, and the recent troubles at Intel.