Intel Corp’s new CEO Lip-Bu Tan, who was appointed this week, will receive a bonus of about $69 million if he meets targets over the next few years.
Intel Corp’s new CEO Lip-Bu Tan, who was appointed this week, will receive a bonus of about $69 million if he meets targets over the next few years.
His financial package includes a salary of $1 million plus a 200% performance-based bonus, Bloomberg reports .
It also includes $66 million in long-term awards, stock options and other financial incentives.
In addition, Tan agreed to purchase $25 million in Intel stock within the first 30 days of taking office. «Lip-Bu Tan’s share purchase reflects his belief in Intel and his commitment to creating shareholder value,» the company said in a statement.
Intel announced earlier this week that Tan would fill the position left vacant after the board fired his predecessor, Pat Gelsinger.
Recall that 65-year-old Tan will take up this position on March 18.
As dev.ua reported, Intel shares rose 13% after the company announced who would take over as CEO. We also looked at what successes Lip-Bu Tan has achieved so far.
As you know, Intel has been in a systemic crisis lately. There have even been reports that the legendary chip manufacturer could be split between Broadcom and TSMC.
