It’s unclear whether the CEO’s announcement will affect the company’s ongoing project of building computer chip plants in Licking County.
COLUMBUS, Ohio — Intel CEO Pat Gelsinger on Monday announced that he is retiring and stepping down from the board of directors.
The company has announced that David Zinser, the executive vice president and chief financial officer, and Michelle Johnston Holthaus, CEO of Intel Products, will take on the role of interim Co-CEOs while they embark on the 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.
They expressed their well-wishes to former Intel CEO Pat Gelsinger in his retirement, highlighting his significant role in selecting Ohio as the location for Intel’s latest silicon foundries. Team Ohio has valued their strong working relationship with Gelsinger over the past two years.
The Ohio One site in Licking County has seen substantial investments amounting to billions of dollars, with numerous equipment shipments making their way to the site from the Ohio River. With the recent announcement of CHIPS Act funding, the company foresees the project making swift progress in the near future.
“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.
