Intel Corp.’s new Chief Executive Officer, Lip-Bu Tan, will receive a compensation package worth about $69 million if he meets targets in the coming years. The package includes a base salary of $1 million and a 200% performance-based bonus.
Tan’s total equity awards and stock options are valued at $66 million. Additionally, he will be eligible for new-hire incentives. As part of his onboarding process, Tan has agreed to purchase $25 million worth of Intel shares within the first 30 days of taking office.
Tan, 65, is set to assume his role on March 18 and will also rejoin the company’s board after stepping down in August 2024. His appointment comes as Intel aims to regain its position in the semiconductor industry, which it dominated for decades. The company’s stock has risen by 20% this year, following Tan’s appointment announcement.
Source: https://finance.yahoo.com/news/intel-ceo-gets-pay-package-214728321.html