Pat Gelsinger's departure as Intel's CEO concludes a challenging four-year tenure during which he managed a significant decline in the company’s stock value and performance.
Despite Gelsinger's resignation, he leaves with at least $46 million from his role, including severance of $7 million to $10 million, reflecting Intel's initial hopeful outlook.
Courtney Yu noted that Gelsinger's realized pay fell short of expectations, primarily due to performance metrics not being met, and the downturn in Intel's stock over recent years.
Intel's stock has plummeted 55% since Gelsinger took over as CEO in January 2021, further highlighting the difficulties he encountered trying to revitalize the chipmaker.
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