Pat Gelsinger, who stepped down as CEO on Monday, was said to be against breaking up the chip giant
The abrupt departure of Intel chief executive Pat Gelsinger offers a fresh opportunity for the troubled company to consider potential deal options, including scenarios that he rejected during his time running the chipmaker.
It’s also an opportunity for suitors to take another look at acquiring some or all of the business. Qualcomm expressed some interest in a transaction before, though nothing got very far.‘I was a cleaner in my dad’s office, which makes me a nepo baby. I got €50 a shift’Finding a solution for a tenant who can’t meet rent after splitting with partner
But Intel pushed forward with less radical changes, including a pause in the construction of plants in Poland and Germany. The company also is slashing roughly 15,000 jobs and suspended its decades-old dividend – part of attempts to conserve cash and keep Mr Gelsinger’s turnaround plan on track.This would involve fully separating Intel’s factory business from the more profitable unit that develops products.
It’s also unclear if a new CEO – or the rest of the board – would be ready to dismantle a company that once ruled the chip industry. And the move would complicate Intel’s ability to get $7.9 billion in federal grants under the US Chips and Science Act, a law aimed at revitalising domestic chip production.Qualcomm considered an Intel acquisition, but its interest had cooled as of last week.
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