These were the 6 most paid executives at Intel in 2020
Two senior executives paid in 2020 no longer at Intel
Intel is in the midst of major changes, and one of the ways that has been expressed is the fact that the company’s two highest-paid executives in 2020 are no longer with the semiconductor giant.
Bob Swan, who stepped down as CEO of Intel in February, was the company’s highest-paid executive last year, according to a proxy statement filed with the U.S. Securities and Exchange Commission in late March. Venkata “Murthy” Renduchintala, who stepped down in August 2020 as the company’s chief engineering officer following manufacturing issues that caused Intel products to be six months behind at 7 nanometers.
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Despite the challenges posed by the pandemic, the Santa Clara, Calif.-Based company ended its fiscal year 2020, which ended on December 26, 2020, with a record total revenue of $ 77.9 billion, an increase of 8% compared to the previous year. However, the company faced concerns about its ability to execute and lead from a technological standpoint – concerns that stemmed from the company’s lag behind its competitors in chip manufacturing capabilities. peak for several years.
Now the company is hoping for a turnaround with former VMware CEO and 30-year Intel veteran Pat Gelsinger at the helm, and Gelsinger promises to make it happen with the company’s new IDM 2.0 hybrid manufacturing plan that expand Intel’s use of internal and external manufacturing. Resources.
However, the road to Gelsinger’s goal of “unchallenged leadership” will not be easy, as evidenced by Intel’s recent shareholder vote to reject the company’s 2020 executive compensation plan, a non-binding vote that has sent a message of disapproval regarding the chipmaker’s compensation practices. .
Responding to shareholder disapproval, Intel said it has a “long-standing commitment to pay for performance, which holds executives accountable for business results and rewards them for consistently strong business performance and creating value for shareholders. ”
Here are the six highest paid executives in the company as of 2020.