Incoming Intel Corp. Chief Executive Officer Lip-Bu Tan, who was named to the position this week, will receive a compensation package valued at approximately $69 million if he reaches performance targets over the coming years.
According to a regulatory filing on Friday, the package includes a base salary of $1 million, plus a 200% performance-based bonus. Additionally, the deal comprises $66 million in long-term equity awards, stock options, and new-hire incentives.
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Separately, Tan agreed to purchase $25 million worth of Intel shares within his first 30 days on the job. “Lip-Bu’s purchase reflects his belief in Intel and commitment to creating shareholder value,” Intel stated in its announcement.
Earlier this week, Intel announced that Tan would fill the role left vacant after the board ousted his predecessor, Pat Gelsinger. A semiconductor industry veteran and former Intel board member, Tan is tasked with restoring Intel’s dominance in an industry it once led for decades.
Tan, 65, will officially assume his role on March 18, 2025, and will rejoin Intel’s board after stepping down in August 2024.
Intel’s stock has rallied this year, gaining 20%, including a surge of 15% on Thursday following the announcement of Tan’s appointment, signaling strong investor confidence in the company’s new leadership.
