Intel stock fell again Wednesday prompting an industry analyst to accuse the chip giant's board of mishandling its CEO's sudden exit.

News that chip giant Intel will get a new CEO set the embattled chip maker's shares in motion Monday, with the stock finishing marginally lower as the company sought to reassure investors that things might improve after a punishing year.

Intel on Monday announced the retirement of chief executive Pat Gelsinger. The move, which was effective Sunday, comes as the U.S. chipmaker struggles to keep up in the hypercompetitive semiconductor market and as its stock price has tumbled.

The chipmaker is considering at least two people outside the company to replace former CEO Pat Gelsinger, who abruptly retired on Sunday.

Intel Corp.’s search for a new chief executive officer will focus heavily on outsiders, with the chipmaker considering candidates such as Marvell Technology Inc. head Matt Murphy and former Cadence Design Systems Inc.

Intel may have ousted CEO Pat Gelsinger, but he’s leaving the company with a significant payday. He’s set to receive 18 months of his base annual salary of $1.25 million, according to a filing with the Securities and Exchange Commission.

Intel's CEO exit reignites discussions on splitting off factories, with questions about financial recovery and CHIPS Act funding.