Intel CEO Pat Gelsinger is retiring, and David Zinsner and Michelle Johnston-Holthaus will lead Intel as interim co-CEOs.

Intel announced on the 3rd that CEO Pat Gelsinger is retiring after a career of more than 40 years.

He was succeeded by David Zinsner and Michelle Johnston Holthaus as interim co-CEOs, with Holthaus taking on the role of CEO of Intel Products. Frank Yerry was also named interim chairman.

Following news of Gelsinger's retirement, Intel's board of directors formed a search committee to find a new CEO.

Frank Yerry said, “We are deeply grateful for Pat Gelsinger’s dedication to Intel and his commitment to innovation as a leader.”

Zinsner brings extensive management experience as Intel’s chief financial officer, while Holthaus has held a variety of leadership roles at Intel. The two interim CEOs will focus on strengthening Intel’s product portfolio and advancing its manufacturing and foundry capabilities.

“Leading Intel has been the honor of a lifetime,” said Pat Gelsinger. “I am proud of all we have accomplished together.” He has led innovation in business and technology industries through various positions at Intel.

“We are grateful for Pat’s dedication and leadership, and we look forward to working even harder to deliver on Intel’s commitment to products and to meeting our customers’ needs,” said Zinsner and Holthaus. Intel plans to grow into a stronger and more agile company with new leadership.