Intel boss earned 1,711 times his company’s average salary in 2021


By signing his return to Intel in early 2021 to replace Bob Swan, the former technical director Pat Gelsinger became CEO and spoke “the greatest honor of his career”. A position that is therefore his pride, but which also fills his wallet well. Indeed, Reuters tells us – after going through some regulatory financial documents – that Pat Gelsinger’s compensation amounts to $ 178.6 million in 2021.

This is eight times more than what Bob Swan had received in 2020. Precision, this remuneration was paid to him at 79% in shares. This nevertheless represents 1,711 times the average salary of Intel employees (established around 105,000 dollars). The lag is therefore even greater than at Apple, where Tim Cook received in 2021 a remuneration 1477 times higher than the average salary within his company. Apple shareholders had validated Tim Cook’s earnings despite the contrary opinion of Institutional Shareholder Services, a consulting firm interviewed by Apple. Those of Intel must still validate the remuneration of Pat Gelsinger. A vote will be held on this subject on May 12, during the annual meeting of shareholders.

The management of the company will not fail to remind them that the price of the Intel title has increased by nearly 7% since Pat Gelsinger took office, after having lost 17% the previous year. The markets were reassured by the direction taken by Intel under the leadership of its new CEO, who proclaimed his firm intention to fight to restore the company to its position as technical leader in semiconductors against TSMC.



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