Intel (INTC) announced Monday that chief executive officer Pat Gelsinger is retiring from the company and has stepped down from its board of directors.

Corporate governance changes are usually far afield from my coverage area, but Gelsinger’s descension merits an exception.

Intel's Chief Financial Officer, David Zinsner, and Executive Vice President, Michelle Johnston Holthaus, have taken over as interim co-CEOs while the board searches for a permanent replacement.