> The most bizarre thing to me is that they've appointed co-CEO's that are both basically CFO's. It makes sense once you understand the board has finally accep

> The most bizarre thing to me is that they've appointed co-CEO's that are both basically CFO's. It makes sense once you understand the board has finally accepted the obvious reality that the only option remaining is to sell/spin-off/merge large parts of the business. Of course, the foundry business must remain in one piece and go to an American company or the US govt won't approve it. Gelsinger 'got resigned' so suddenly because he wouldn't agree to preside over the process of splitting up the company. These co-CEOs are just caretakers to manage the M&A process, so they don't need to be dynamic turnaround leaders or even Wall Street investable. Intel stock went up on the news not because the street expects a turnaround but because they think the pieces may be worth more separately.