Intel Names Lip-Bu Tan as CEO with $69 Million Compensation Package Tied to Performance

The semiconductor veteran is tasked with leading Intel's turnaround after the ousting of Pat Gelsinger.

Lip-Bu Tan will receive a $1 million base salary, with an additional $2 million annual performance-based bonus.
His compensation includes $66 million in long-term equity awards and stock options, contingent on Intel's stock performance over the next three years.
Tan is required to purchase $25 million in Intel shares within 30 days of starting his role, reflecting his commitment to shareholder value.
The appointment follows Intel's ousting of former CEO Pat Gelsinger, whose turnaround efforts were deemed insufficient by the board.
Intel's stock surged 15% following Tan's announcement, signaling market confidence in his leadership.