Intel’s newly appointed CEO, Lip-Bu Tan, will receive a compensation package worth approximately $69 million, based on performance targets over the coming years. His pay includes a $1 million base salary along with a 200% performance-based bonus. Additionally, he will receive $66 million in long-term equity awards, stock options, and new-hire incentives.
As part of his commitment to Intel, Tan has agreed to purchase $25 million in Intel shares within his first 30 days as CEO. The company highlighted this move as a demonstration of his confidence in Intel and dedication to increasing shareholder value.
Tan, a veteran of the semiconductor industry, was appointed to the position after the departure of former CEO Pat Gelsinger. He previously served on Intel’s board and is now responsible for leading the company back to its industry-leading position.
Following the announcement of Tan’s appointment, Intel’s stock surged 15% on Thursday, contributing to an overall 20% rise in the company’s shares this year. Tan, 65, will officially take over as CEO on March 18 and will rejoin the board after stepping down in August 2024.
