That’s what happens when you let systemic problems fester for years and months. There should have been many hard and far-reaching decisions and actions made long ago. I’m afraid it’s too late now.
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Confidence in Intel waved bye bye years earlier. Its realization and effects are actually manifesting now. But confidence in the products we make and quality of engineering and engineers we employee deteriorated several years earlier than now
@sys
Brian Krzanich is that you?
'Because they are no longer in a leadership position on any technology AND the debt we are carrying is catastrophic. '
You have already hit the iceberg. Lifeboats are on the left.
I am so happy to see this. MJ will be CEO and this other stupid Pat lord fantasy will be gone. Sell off fab now.. dead weight!
Pat had his issues but the strategic malpractice comes from the Board.
The Board hired Pat because he wanted to keep Products and Foundry together. He explained at some length that he thought there was synergy, where the overall profit margin would be higher than if they were separate.
In fact, that synergy dissipated when x86 lost its competitive moat to ARM+TSMC. Foundry needed Product groups to have the kind of profit margin which is only possible in a monopoly or duopoly, and ARM has enabled all companies to be competitive with x86.
It was a lost fight the week after the iPhone first shipped, and was still lost when Pat and the Board tried IDM2.0
I can't help but believe that Pat (and maybe the Board) knew that, and felt all along that what they were doing was to reinvest with the intent of selling off or doing an IPO or the Product groups, and/or Foundry.
Pat lied to customers and damaged the longstanding relationship with TSMC, acting like a politician while trying to get corporate welfare from the socialists. So he was fired for cause.
Note that Dave has already stated that the strategy remains, and Naga has indicated it will be more cost focused than before. Pat did not pay much attention to cost and that would also be enough reason to terminate him, because he was spending money at an unsustainable rate.
Pat also left serious internal issues to fester at vmware.
If the BOD had done their job and actually vetted Pestilence Pat, he would have been marked "no hire".
It is too late now. Why? Because they are no longer in a leadership position on any technology AND the debt we are carrying is catastrophic. When will dividends come back? So many perks are gone now..this is a sick company.
And Pat has the gall today to ask for Prayers for the folks at Intel. Seriously? I read the responses, and it was NOT well received. He is sickening.
When the captain has jumped off the titanic, you know its over. The hull is breached and we're all going down under.