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.
On Monday, Intel's interim leadership addressed outgoing CEO Pat Gelsinger's abrupt departure, in an internal meeting.
Intel Corp. is making a change at the top with Chief Executive Pat Gelsinger out after less than four years. The company ...
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