By quitting the way and in the timeframe he did one can make the argument that Intel was in bad shape when he took over. So it’s not his fault. He can now have the narrative that Intel was always failing, and these were the cards he was dealt. Instead of taking any accountability. It’s the Intel way push blame onto to others and keep it moving. He saved his legacy.
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Pat I assume it will be spent being the decent and kind person we knew at Vmware.
Nice & kind do not necessarily comport with being a competent CEO.
In fact, he was a terrible CEO at vmware. He fostered the terrible BU management, and allowed all the bad things to fester.
He will be remembered fondly and as a visionary!
Actually the correct term is 'Refired'
Reality is that Pat paid no attention to the spending that was going on, building multiple fabs with no proven customer demand, internal and external, and lied to customers about what Intel could deliver.
And angered longtime supplier TSMC.
He was given plenty of rope, and managed to hang himself due to very poor execution.
It's been reported that he has over time become completely disconnected with what is actually going on. The phrase 'messiah complex' was used.
@fri
Yes, thanks for the correction.
This post could be summarized as "an Intel manager thinks"
Intel's issues are terminal and they'll eat another 20 billion of US government money like a shivering crack addict in rehab.
Dow Jones Industrial Average, not S&P500.
Pat was fired.
So was BK
Pat was fired. They call it "retired" to soften the humiliation but everybody knows he was fired. His legacy is trash. He was hired to bring Intel back to it's former glory but instead the stock is down 60%, got kicked out of the S&P, no more dividends and continuing to fall behind the competition & there's no real direction. His excuse is always "economic headwinds" but everybody can see that those headwinds only blow on Intel.
Sorry but he was fired.
This is not a good look for him
Pat was the CEO of VMware when I worked there for a number of years. He would meet with all of us at company meetings. He seemed like a genuinely nice, caring, and smart person without any of the drama. I met him a few times and he was super down to earth. He cared about the employees. I spent more than 20 years working in the tech industry and he was the best CEO of any tech firm I was at over those years.
Its easy and frankly lazy to blame the CEO. Remember- many others are also there at Intel who make important decisions and plans. Intel's leadership made a major mistake at not developing their own mobile device processors or ARM-based chips. No CEO could have made up for that in the short tenure Pat was there. He was brought in probably to attempt to "save" the company.
If I were Pat? I too would have retired. Enjoy the time to do what I would want to do. Knowing Pat I assume it will be spent being the decent and kind person we knew at Vmware.