Former Intel CEO Pat Gelsinger has really asked people to join him in a time of prayer and fasting for the future and welfare of Intel’s 100,000 workers. His strong relationship with the company’s employees and his wish for Intel to overcome its present difficulties are reflected in this request.
“Every Thursday, I fast and pray for a full day. During these difficult times, I would like you to join me in praying and fasting for Intel’s 100,000 employees,” Gelsinger posted on X (previously Twitter) this week. According to him, Intel and its team are crucial to the future of both the tech industry and the United States.
The appeal follows Gelsinger’s unexpected removal as CEO, which occurred after the company’s board lost faith in his strategic direction. His exit comes at a particularly tough time for Intel, as its stock has dropped by 58% year-to-date, contrasting sharply with the 28% rise in the S&P 500 and nearly triple growth of Nvidia’s stock.
“Guiding Intel has been the greatest privilege of my career,” Gelsinger expressed in his resignation message. “This moment is bittersweet, as Intel has been a cornerstone of my career for most of my professional life.”
Intel is undergoing a large-scale restructuring, which includes cutting 15% of its workforce and reducing expenses by $10 billion. The most recent quarter showed a loss of $0.46 per share, with revenue dropping 6.2% year-over-year to $13.28 billion.
Intel has named Michelle Johnston Holthaus and David Zinsner as co-CEOs while it searches for a permanent CEO.
External candidates such as Lip-Bu Tan, a former board member of Intel, and Matt Murphy from Marvell Technology are also being considered by the firm.
Despite his departure, Gelsinger continues to support Intel’s technological initiatives. Recently, he defended the company’s 18A semiconductor process, arguing that yield rate figures alone don’t fully reflect its technological progress.
In his message, Gelsinger shared an inspiring quote from Proverbs 3:3: “Let love and faithfulness be with you always; keep them close to your heart and mind,” offering a message of hope and resilience for those navigating tough times.
