https://www.oregonlive.com/silicon-forest/2022/11/intel-cuts-ceo-stock-payouts-amid-layoffs.html
8 replies (most recent on top)
PG has already made 100 times than I've made in the past 20+ years working for Intel so even if he doesn't make much on the stock in the future he has more money than he can spend in a lifetime. This move is largely symbolic as there's no way the stock is getting back to 60 (letalone 70) in the next few years so his pay would have been cut anyway.
The bigger picture is we have runaway boards in tech that are paying execs ridiculous amounts of money before these CEOs deliver any results. I'd be more than happy if we paid PG $500M if he delivered on process leadership, gets us back to 80% MSS, and raises the stock price back into the 60s (or I can dream about 70s). I know a bunch of mid level execs that would work as CEO for $20M / year and would be super happy with that.
Agree 👍 Pat should be fired.
However it will take a new Board Chairman to do the nasty deed, and with Omar still in place Pat is safe.
The CEO should be fired and his rescue plan revisited. IDM and IFS are broken strategy
Intel board should be ashamed of itself for the pay package they granted...
Intel has acknowledged that investors were unhappy with Gelsinger’s outsized potential payouts, noting earlier this year that “some stockholders sought to understand the need for the magnitude of the CEO’s new-hire equity awards.”
Firing RT is very strange. Isn't he Foundry?
the tax man is probably more upset .
:)
OMG...how will Pat manage with only $79 million! His family must be going through massive budget cuts for Xmas. Sad.
INTC went up 3%.