If you were BK (average intelligence, San Jose state degree, mediocre "engineer", no business acumen) and winning the lottery every year ($25m) would you resign? This guy is just cashing in and hoping he can stay in the job as long as possible. He didn't really believe in himself otherwise he'd demand CEO salary from the outset not through the back door. Good luck BK!
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https://www.msci.com/www/blog-posts/are-ceos-paid-for-performance-/0410455074
+1 to what OP said...I wonder why the board and Wall Street sugar dads let this guy stay. Maybe they know that Intel is might as well dead and no respectable leader wanted the CEO post.
The Board is complicit in this mess too. How many meetings do they show up for? How much do they get paid? They probably make more on an Intel board seat than the average Intel employee makes in a year. Pottruck and Yoffie have been on the board for eons, and what has John Donahoe brought to the table?
Every CEOs has huge EGO and are full of their own delusion of how they got there and how brilliant they are. Some are widely successfuly and many will go down as average and many more like BK will go down in the annals as disaster. It ain't all BK's fault but he isn't improving on anything, CRB and PSO were terrible as well!
Your assessment is absolutely accurate. He is a failure to executive management and has succeeded in the ultimate destruction of Intel. His only success is milking the position for millions of dollars. He can then disappear to become a king in the jungles of Ecuador, never to be heard of again.