In a heartfelt appeal, ousted Intel CEO Pat Gelsinger urged colleagues to join him in prayer and fasting, expressing his deep concern for the well-being of the company’s 100,000 employees and their future.
In a post on X, Mr Gelsinger wrote, “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. Intel and its team is of seminal importance to the future of the industry and US.”
Gelsinger’s appeal follows his abrupt removal by the Intel board, who lost confidence in his strategic vision. This comes amidst a turbulent period for Intel, marked by a 58% stock decline, sharply contrasting with the S&P 500’s 28% rise and Nvidia’s impressive growth.
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. Intel and its team is of seminal importance to the future of the industry and US.
— Pat Gelsinger (@PGelsinger) December 8, 2024
“Leading Intel has been the honour of my lifetime,” Gelsinger reflected in his retirement statement. “Today is, of course, bittersweet as this company has been my life for the bulk of my working career.”
Intel has undergone significant restructuring, including 15% workforce cuts and $10 billion in spending reductions. The company recently reported a $0.46 per share loss and a 6.2% year-over-year revenue decline to $13.28 billion.
Following Gelsinger’s departure, David Zinsner and Michelle Johnston Holthaus have assumed the role of co-CEOs. Intel is now conducting a comprehensive search for a permanent leader, exploring both internal and external candidates, including Matt Murphy from Marvell Technology and former board member Lip-Bu Tan.
In a recent public statement, ousted CEO Pat Gelsinger defended Intel’s 18A semiconductor process, arguing that yield rates alone do not accurately reflect the company’s technological advancements.
Gelsinger’s call for prayer included a powerful message of hope and resilience, drawing inspiration from Proverbs 3:3: “Let love and faithfulness never leave you; bind them around your neck, write them on the tablet of your heart.”
