Intel CFO David Zinsner and Client Computing Group head Michelle Johnston Holthaus will be sharing the title of interim CEO while the company's board of directors searches for a new CEO. Gelsinger has also stepped down from his seat on the board.

Can anyone genuinely rescue Intel from its current predicament? The company's missed mobile and AI chips opportunities have left it playing catch-up in critical markets.

Intel CEO Pat Gelsinger retired Sunday, after more than 40 years with the company. The company quickly named two interim co-CEOs to hold the fort while it searches for a long-term replacement.