Intel CEO: Intel has made “a decade of bad decisions and poor execution”

Intel CEO Pat Gelsinger expressed optimism about Intel’s prospects in a recent interview, and also tried to allay some shareholders’ concerns. This interview was conducted at Intel’s recent investor event, where investors and shareholders can take the lead in getting first-hand intelligence about Intel’s future, such as the Arc Alchemist series of GPUs and more. Since Pat Gelsinger took office as CEO, he has also taken a series of measures to challenge rival AMD, such as plans to invest $20 billion in the United States to build the world’s largest chip manufacturing plant, the $5.4 billion acquisition of Tower Semiconductor.

Still, Intel’s stock price fell 22% last year, which Pat Gelsinger blamed on “massive shortages” and “competitors are performing well.” Pat Gelsinger says:

“We’ve gotten a lot done over the first year. But you don’t change, you don’t fix, you don’t reestablish [Intel as a stronger company] after a decade of bad decisions and poor execution. It’s going to take a while, but we are well on our way after year one.”

Throughout the interview, Pat Gelsinger was unmoved by shareholder concerns. When asked how he would rate himself as Intel CEO, he gave himself an A-.

“We still got analysts out here, some of whom piss me off right?” the CEO said. “I call them bears and permabears that sort say, ‘Yes that’s the right strategy Pat, but I’m not sure if I need to invest for a year or two, yet. When’s it going to start materializing in the marketplace?’

“…I appreciate divergent views. That’s part of the Intel culture.”

It seems that Pat Gelsinger is very confident that Intel can reclaim its past glory.