Former Intel CEO says the chipmaker went off the rails ‘when it started to be run by business people’
Former Intel CEO Pat Gelsinger attributes the company's past decline to leadership by business-focused executives rather than technical experts. He criticizes the prioritization of stock buybacks and dividends over long-term technical innovation.
Why it matters
The critique highlights the ongoing debate in the tech industry regarding whether engineering-led or finance-led management is more effective for long-term competitiveness.
Former Intel CEO Pat Gelsinger said the chipmaker didn't have the right kind of leadership for years. Leon Neal/Getty Images Former Intel CEO Pat Gelsinger called out his predecessors for their role in the chipmaker's decline. Gelsinger questioned why Intel was led by executives without a strong technical background. Intel's standing has rebounded over the last year after the US took a roughly 10% stake in the company. Former Intel CEO Pat Gelsinger says he has a hunch when the chipmaker's downfall began. "I think one of the fundamental things is, and as you look at the great technology companies today, they're deeply technical," Gelsinger told "All-In Podcast" cohost Jason Calacanis during an interview taped at the Raise Summit in Paris. Gelsinger said when he returned to Intel in 2021, he "was the first technical leader in essentially 15 years associated with it."
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