Intel CEO Gelsinger forced out by board, Bloomberg reports

Intel (INTC) Chief Executive Officer Pat Gelsinger was forced out after the board lost confidence in his plans to turn around the company, Ian King, Liana Baker and Ryan Gould of Bloomberg report, citing people familiar with the matter. Gelsinger met with the board last week about Intel’s progress on winning back market share and narrowing the gap with Nvidia (NVDA) and was given the option to retire or be removed, sources tell Bloomberg. The CEO chose to announce the end of his career, they added.