Intel CEO earned nearly $180 million in 2021
The Hindu
Compared to Gelsinger, former CEO Bob Swan had earned 217 times more than the average Intel employee in 2020.
Intel Corp CEO Pat Gelsinger earned 1,711 times as much as the average worker at the U.S. chipmaker in just 11 months since he joined in February last year, a regulatory filing showed on Wednesday.
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Compared to Gelsinger, former CEO Bob Swan had earned 217 times more than the average Intel employee in 2020.
Gelsinger earned $178.6 million in 2021 with stock awards making up nearly 79% of his total compensation, which was about 698% higher than Swan's 2020 pay.
Executive pay has been rising in the United States. Apple Inc CEO Tim Cook earned1,447 times the average employee's salary at the tech giant in2021. Shareholders of Apple approved the pay package despite proxy advisory firm Institutional Shareholder Services pushingagainst it.
Intel has asked shareholders to vote in favor of its executives' compensation at the annual stockholder's meeting on May 12. It did not immediately respond to a Reuters request for comment.
After Gelsinger took the reins at Intel, once a world leader in chip-making technology, he unveiled a turnaround strategy for the company to regain its dominance in the semiconductor industry, currently led by Taiwan's Taiwan Semiconductor Manufacturing Co .
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