Intel’s interim co-CEO, David Zinsner, announced on Wednesday that the company’s next CEO will have expertise in manufacturing as well as product development.
According to a Reuters report on Tuesday, Intel is considering several external candidates, including former board member Lip-Bu Tan, to lead the company after CEO Pat Gelsinger resigned. The move follows dissatisfaction with the pace of Intel’s turnaround efforts.
Speaking at the UBS Technology Conference, Zinsner stated, “While I’m not part of the selection process, I expect the new CEO will have experience in both foundry operations and product development.” He added that Intel’s core strategy remains unchanged and reaffirmed the company’s previous financial forecast shared in October, which showed optimism for the PC and server markets.
Naga Chandrasekaran, Intel’s head of foundry manufacturing and supply chain, emphasized the need for a cultural shift at Intel to succeed in both the foundry and semiconductor sectors.
Intel’s shares have declined by over 55% this year, driven by its slower progress in artificial intelligence compared to competitors like Nvidia. Last month, Intel was removed from the Dow Jones Industrial Average and replaced by Nvidia.
Chandrasekaran also reported steady progress on Intel’s 18A advanced node manufacturing process, despite initial challenges. “We are addressing yield and defect density issues, but there are no fundamental roadblocks,” he said.
Intel plans to provide samples of chips using the 18A node to customers in the first half of next year and begin production at its Oregon facility in the second half.
