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Intel’s ex-CEO Pat Gelsinger set to net $10M in severance pay
Intel's newly departed ex-CEO Pat Gelsinger could be walking away with more than $10 million in severance pay.
Additionally, he will receive 1.5 times his current target bonus, which is 275% of his base salary — this works out at $5.16 million. But on top of that, Gelsinger will receive a pro-rata payment that’s equal to 11/12ths of his 2024 annual bonus, which works out at around $3.15 million. Gelsinger’s departure, effective December 1, came after nearly four years in the hotseat, and he’s replaced by co-CEOs David Zinsner and Michelle Johnston Holthaus, who have hitherto served as CFO and GM of Intel’s client computing group, respectively.
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