Former Intel CEO Pat Gelsinger to Receive $12 Million Payout

Former Intel (NASDAQ:INTC) CEO Pat Gelsinger will receive a compensation package valued at approximately $12 million following his departure from the semiconductor giant. Intel disclosed the details of the payment in a regulatory filing on Tuesday.

Gelsinger's compensation includes a base salary of $1.9 million over 18 months and a bonus that is 1.5 times his target bonus of $3.4 million. These payments will also be distributed over an 18-month period.

In addition to these payments, Gelsinger is entitled to receive his annual bonus for the 11 months he served as CEO in 2024, bringing the total compensation estimated to $12 million.

Gelsinger's departure occurs before he completed his fourth year as CEO at Intel. While the company continues its search for a permanent successor, two deputies have been appointed in his place. His resignation, effective December 1, followed a board meeting held last week.

During this meeting, Intel's board concluded that Gelsinger's costly and comprehensive plan to revitalize the company did not yield the desired results. Faced with options of retirement or removal from his position, Gelsinger opted to resign.