Intel CEO Pat Gelsinger's removal has put an abrupt end to his role in the struggling chipmaker's turnaround efforts, leaving Wall Street with doubts whether his ambitious revival plan is headed for the chopping block.

Intel's newly departed ex-CEO Pat Gelsinger could be walking away with more than $10 million in severance pay.

Gelsinger, whose career has spanned more than 40 years, also stepped down from the company's board, effective Dec. 1, 2024. He started at Intel in 1979 at Intel and was its first chief technology officer. He returned to Intel as chief executive in 2021.