Intel CEO to pitch board on plans to shed assets

Revival plan: Gelsinger delivers a speech at a forum in Taipei, Taiwan. His presentation, including the plans around the firm’s manufacturing operations, is not yet finalised and could change ahead of the meeting, sources say. — Reuters

SAN FRANCISCO: Intel chief executive officer (CEO) Pat Gelsinger and key executives are expected to present a plan later this month to the company’s board of directors to slice off unnecessary businesses and revamp capital spending.

According to a source familiar with the matter, the bid is part of a plan to revive the once-dominant chipmaker’s fortunes.