Intel CEO Pat Gelsinger has earned 1,711 times more than the average employee in just 11 months since he joined the company last February. This follows from a report to regulators published this week.
By comparison, previous CEO Bob Swan made 217 times more than the average Intel employee in 2020.
Gelsinger earned $178.6 million in 2021. Nearly 79% of the amount came from share consideration. This is about eight times Swan’s 2020 salary.
The source notes that executive salaries in the United States are on the rise. Apple CEO Tim Cook earned 1,447 times more than the average employee in 2021.
As head of Intel, Gelsinger introduced a strategy to restore the company’s dominance in the semiconductor manufacturing industry, which is currently led by Taiwanese company TSMC.
Intel’s shares rose 6.8% last year after falling about 17% a year earlier as the company faced a manufacturing crisis and struggled with competition.
Earlier this month, Intel unveiled the first phase of its plans to invest 80 billion euros in the European Union over the next decade.
Source: ixbt
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