Ousted Intel CEO Pat Gelsinger is leaving the company with millions ...Middle East

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Ousted Intel CEO Pat Gelsinger is leaving the company with millions
source : News channel ( Middle East ) () 48
By Ramishah Maruf, CNN New York (CNN) — 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. He will also receive 1.5 times his current target bonus of 275% of that annual wage – about $3.4 million – payable over 18 months. He’ll also be eligible for 11/12ths of his 2024 bonus, since he stepped down on the first day of December. Overall, that’s at least $10 million. Gelsinger also owns roughly 646,000 shares in Intel as of a November regulatory filing. These days, that’s worth more than $14.5 million.

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