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 shares fell more than 5% on Tuesday, a day after the chipmaker announced the ouster of CEO Pat Gelsinger.
6hon MSN
Intel said the severance payment would include $1.9 million as base salary for 18 months and 1.5 times his target bonus of $3 ...
Intel Chief Executive Pat Gelsinger was fired less than four years after taking over, leaving two lieutenants in charge while ...
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