Intel Board Blasted For Handling Of CEO's Sudden Exit As Stock Falls Again

Core Viewpoint - Intel's stock has experienced a decline following the sudden departure of CEO Pat Gelsinger, raising concerns about the company's future and leadership [1][4]. Group 1: CEO Departure and Market Reaction - The Intel board's handling of Gelsinger's exit has been criticized, with accusations of a lack of communication and foresight [2][3]. - Following the announcement of Gelsinger's departure, Intel's stock initially rallied but then fell for three consecutive days, indicating investor uncertainty [1][4]. - The stock closed at $21.96, down 2.3% on Wednesday, and has dropped nearly 9% for the week, falling below its 50-day moving average [6]. Group 2: Investor Sentiment and Future Outlook - Investors are left questioning the implications of Gelsinger's exit, with concerns about finding a suitable replacement and the company's direction [5]. - Analysts suggest that while Gelsinger's departure was anticipated, the timing was unexpected, leading to mixed reactions among investors [5]. - The company's Relative Strength rating has significantly decreased to 13, down from 96 a year ago, reflecting deteriorating investor confidence [6].