Intel’s CEO departure opens door to new deal discussions

The abrupt departure of Intel’s Chief Executive Officer Pat Gelsinger offers a fresh opportunity for the troubled company to consider potential deal options, including scenarios that he rejected during his time running the chipmaker.

The board has discussed a range of possibilities in recent months, such as private equity transactions and even a split of Intel’s factory and product-design businesses. But Gelsinger was opposed to breaking up the company, focusing instead on his plan to restore Intel’s technological edge and become a made-to-order manufacturer for outside clients.

Gelsinger left this week following pressure from the board and is set to receive as much as $10 million in severance pay. With his departure, there’s a chance to reset the conversation. Morgan Stanley and Goldman Sachs have been helping the company ponder its options and may find a more receptive audience in new management.