Intel will pay $7M in severance to former CEO Pat Gelsinger, plus millions more in bonuses
Intel’s hiring agreement with Gelsinger promised him a severance payment of 18 months of his salary and his annual target bonus if he resigned “for good reason.” In a regulatory filing Tuesday, Intel said that it had agreed to pay him that in connection with his retirement.
Intel’s CFO has a tough new job: Serve as interim co-CEO to keep its finances from further ‘deteriorating’
Gelsinger, CEO since 2021, had a 40-plus-year career at Intel. He was betting the company on 18A, a new chipmaking process hoping it would be a viable alternative to Taiwan Semiconductor Manufacturing Co., (TSMC) the world’s leading contract manufacturer of chips, Fortune ’s Jeremy Kahn recently reported.
Intel is considering tapping an outside hire as CEO, a nearly unprecedented occurrence, as the company reels from the ouster ...
Intel shares fell more than 5% on Tuesday, a day after the chipmaker announced the ouster of CEO Pat Gelsinger.
Intel Corp (NASDAQ:INTC) has reportedly narrowed its search for a new CEO. The list of potential candidates has now been ...
Key Takeaways Pat Gelsinger has stepped down as the CEO of Intel. Gelsinger was forced out by the board, which is seeking to ...
Intel Corp. Chief Executive Officer Pat Gelsinger, who was hired in 2021 to lead an ambitious turnaround of the iconic ...
Shares of Intel (NASDAQ: INTC) were moving higher today after the chip giant surprised investors this morning by saying that ...
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