Update 12-15-21: Intel changed its rules for executive retirement, as of March 2021, allowing corporate officers to serve past the age of 65. As a result, Chang’s concerns cited in this article are no longer a factor.
Intel CEO Pat Gelsinger is going full speed ahead in his efforts to turn Intel around, but TSMC founder Morris Chang thinks he’ll run out of time.
Like many companies, Intel has a mandatory retirement age for its CEOs, requiring them to step down at 65. Gelsinger replaced Bob Swan as CEO in early 2021, and is currently 60 years-old (he’ll turn 61 in March).
In a report by UDN, Chang made his comments at the “Cherish Taiwan’s Advantages in Semiconductor Wafer Manufacturing,” saying ‘he does not believe that he [Gelsinger] can bring Intel back to the top.’
There is always the possibility that Intel could change its retirement age, allowing Gelsinger to continue as CEO past 65. In order for that to happen, however, Gelsinger would need to prove that he can successfully turn the company around.
Only time will tell whether Chang is right.