Intel Corporation (NASDAQ: INTC) today announced that CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective yesterday.

(Reuters) -Chipmaker Intel said on Monday CEO Pat Gelsinger retired from the chipmaker, effective Dec. 1. The company named CFO David Zinsner and senior executive Michelle Johnston Holthaus as interim co-chief executive officers while its board conducted a search for a new CEO.

Intel Corp. Chief Executive Officer Pat Gelsinger has retired from the company and stepped down from its board of directors just as the company is in the middle of trying to execute on a turnaround plan.

Intel (NASDAQ:INTC) made the surprising announcement on Monday that Chief Executive Officer Pat Gelsinger is retiring and will be replaced by co-CEOs David Zinsner and Michelle Johnston Holthaus. Gelsinger is also stepping down from the company's board of directors.

Chipmaker Intel (INTC.O), opens new tab said on Monday CEO Pat Gelsinger will retire from the company. Stocks in Europe steadied on Monday, after the French government said it would scrap a proposed budget reform as a concession to its far-right coalition partner,

Intel CEO Pat Gelsinger retired from the chip maker and stepped down from the board, effective Dec. 1, the company announced Monday. Intel has named two senior leaders, David Zinsner and Michelle Johnston Holthaus,