Pat Gelsinger's abrupt retirement from Intel in December 2024, as reported by CNBC, stemmed from the board's loss of confidence in his turnaround plan amid disastrous financial performance, including massive losses and market share erosion to rivals like Nvidia and AMD. Gelsinger, who had championed ambitious foundry expansions, left the company in disarray, prompting a search for a successor capable of steering Intel back to prominence.