Ex-Intel CEO calls public to join him in '24-hour prayer & fasting' for 100K employees amid corporate turmoil
Pat Gelsinger, the ousted CEO of Intel, has appealed public for prayers and fasting for the chipmaker’s 100,000 employees as the company navigates significant challenges.
FollowPat Gelsinger, the ousted CEO of Intel, has appealed public for prayers and fasting for the chipmaker’s 100,000 employees as the company navigates significant challenges. Gelsinger, took to X (formerly Twitter) on Sunday and urged people to support Intel’s workforce during this difficult period.
"Every Thursday, I do a 24-hour prayer and fasting day. This week, I'd invite you to join me in praying and fasting for the 100K Intel employees as they navigate this difficult period," Gelsinger wrote. "Intel and its team is of seminal importance to the future of the industry and US," he added.
A sudden exit amid financial turmoil
Gelsinger’s heartfelt appeal comes against backdrop of his abrupt ousting by Intel’s board of directors, which cited a lack of confidence in his strategic vision. The departure caps a tumultuous chapter for the semiconductor titan. Intel’s stock has plunged a staggering 58% year-to-date, painting a stark contrast to the S&P 500’s 28% climb and Nvidia’s meteoric rise, nearly tripling in value.
Reflecting on his tenure, Gelsinger described the opportunity to lead Intel as “the honor of my lifetime,” adding, "Today is, of course, bittersweet as this company has been my life for the bulk of my working career."
Intel slashed 15% of its workforce and implemented a $10 billion spending reduction plan. Despite these efforts, the recent quarter saw Intel report a $0.46 loss per share, with revenue dropping 6.2% year-over-year to $13.28 billion.
As the search for a permanent CEO continues, Intel has placed David Zinsner and Michelle Johnston Holthaus as interim co-leaders. Uncharacteristically, the board is considering external candidates, including Marvell Technology’s Matt Murphy and former Intel board member Lip-Bu Tan.
Amidst these upheavals, Gelsinger has remained steadfast in defending Intel’s technological ambitions. Responding to critiques of Intel’s 18A semiconductor process, he argued that yield rate percentages fail to fully capture the innovation underway.
Gelsinger shared a poignant biblical verse from Proverbs 3:3: "Let love and faithfulness never leave you; bind them around your neck, write them on the tablet of your heart."
subscribe to Asianet Newsable WhatsApp channel by clicking here.
