COLUMBUS, Ohio — Intel CEO Pat Gelsinger on Monday announced that he is retiring and stepping down from the board of directors.
The company said David Zinser, executive vice president and chief financial officer, and Michelle Johnston Holthaus, CEO of Intel Products, will serve as interim Co-CEOs as it begins its search for a new CEO.
It's unclear whether Gelsinger's announcement will affect the company's ongoing project of building computer chip plants in Licking County.
Gov. Mike DeWine and Lt. Gov. Jon Husted issued a statement on Gelsinger's announcement, sending him best wishes on the next steps of his journey.
“We want to wish former Intel CEO Pat Gelsinger the best in his retirement. Pat has been the driving force in choosing Ohio as the site of Intel’s newest silicon foundries, and Team Ohio has had a great working relationship with him over the past two years.
“Billions of dollars have been invested at the Ohio One site in Licking County, including multiple loads of equipment coming north from the Ohio River to the site. Now that the CHIPS Act funding has been announced, we anticipate the project will continue to move ahead quickly.
“We expect to talk with the Interim CEOs of Intel soon so we can offer whatever continued support they need as we work to build the most advanced microchip fabrication facility on earth which will stand as the cornerstone of the Silicon Heartland.”
Last week, the Biden administration announced plans to reduce part of Intel’s $8.5 billion in federal funding for computer chip plants around the country, including central Ohio, to $7.86 billion. The reduction is largely a byproduct of the $3 billion in loans in March.
DeWine and Husted took a positive spin on last week’s announcement, saying that it was a step forward in making the most advanced computer chips in America.
The changes to Intel’s funding are not related to the company’s financial record or milestones, the people familiar with the grant told The Associated Press. In August, the chipmaker announced that it would cut 15% of its workforce — about 15,000 jobs — in an attempt to turn its business around to compete with more successful rivals like Nvidia and AMD.
In February, Intel announced it would be delaying the project in Ohio because of business conditions and demand environment.
Kenny McDonald, the president and CEO of One Columbus, said chips will start being made in early 2028. The company would not confirm the 2028 start date.