Intel Stock Rises After Company Says CEO Retires | Global News Avenue

Chip giant Intel (international trade center) will appoint a new CEO.

Pat Gelsinger has resigned, effective yesterday, and Intel named two interim leaders and began a search for a permanent replacement, the company said on Monday. The stock recently rose about 4% in premarket trading.

Intel said it named David Zinsner as chief financial officer and Michelle “MJ” Johnston Holthaus as interim co-CEO , taking on the new title of CEO of Intel Products.

Intel said it has formed a search committee to find a permanent replacement.

Its shares are down about 50% this year.