Intel's ousted CEO Gelsinger to receive up to $12 million payout

Quick Summary:

Intel former CEO Pat Gelsinger could get as much as $12 million as payout, a regulatory filing showed on Tuesday, following his ouster from the struggling U.S.chipmaker.

The company said the severance payment would include $1.9 million as base salary for 18 months and 1.5 times his target bonus of $3.

The board told Gelsinger he could retire or be removed, and he chose to step down, Reuters reported.

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Category: EconomyBusiness

Markets: SingaporeTaiwan

Topics: Company Gelsinger Mediacorp Experience Reuters 2024 Bonus Board Intel Million Months

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 20:49:54 (1 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 231 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24092339

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