Intel shareholders approve equity incentive plan, new CEO pay

Reuters

Tue, May 6, 2025, 9:46 AM 1 min read

SAN FRANCISCO (Reuters) -Intel shareholders connected Tuesday approved a measurement by the chipmaker aimed astatine topping up stock reserves to pull and clasp caller employees, and compensation for its caller CEO Lip-Bu Tan.

Intel shares fell 1.6% successful aboriginal day trading aft dropping 36% successful the past year.

Shareholders approved the Santa Clara, California-based company's committee of directors, though 3 members did not basal for reelection. Tan, who took the helm successful March aft the committee ousted erstwhile CEO Pat Gelsinger successful December, volition get banal awards of $42 cardinal depending connected however Intel's shares perform.

Three shareholder proposals were rejected. The proposals would person required Intel to reassess its operations successful Israel, nutrient caller reports connected charitable giving and springiness shareholders the close to enactment by written consent.

The shareholders gathering was the archetypal for Tan. The committee had mislaid assurance successful Gelsinger's costly turnaround program aft helium failed to present connected lofty promises.

Tan has begun to restructure Intel by flattening the enactment hierarchy and articulating a program to rebuild its artificial quality concern and chopped its ample mediate absorption layer.

Tan said helium intends to leverage Intel's ample stock successful the idiosyncratic machine and information halfway markets to present much competitory products, and volition refine its AI strategy.

(Reporting by Stephen Nellis and Max A. Cherney successful San Francisco; Editing by Franklin Paul and Richard Chang)