News Shareholders pay up as Intel ex-CEO Pat Gelsinger is reportedly set to depart with a $12 million golden handshake

[Admin]

Pat Gelsinger will enjoy almost $12 million in severance payments as he steps down as the CEO of Intel.

Shareholders pay up as Intel ex-CEO Pat Gelsinger is reportedly set to depart with a $12 million golden handshake : Read more

 

[phead128]

Board: "Retire" gracefully and get $12M golden parachute, or get fired with no severance.

Pat Gelsinger: OK, how do I sign up for Medicare?

 

[DarkestDot]

I have this image of Intel showering 12mil in gold coins down on him. Really was hoping that he was going to be able to turn the ship around by bringing engineering back to Intel. Guess it wasn't enough and now he gets resigned and a golden shower.

 

[ThatMouse]

Board: "Retire" gracefully and get $12M golden parachute, or get fired with no severance.

Pat Gelsinger: OK, how do I sign up for Medicare?

He can always be a Walmart greeter for the insurance plan.

 

[phead128]

golden shower

I don't judge people's fetishes 😳

 

[ivan_vy]

I have this image of Intel showering 12mil in gold coins down on him. Really was hoping that he was going to be able to turn the ship around by bringing engineering back to Intel. Guess it wasn't enough and now he gets resigned and a golden shower.

easy choice for Pat.

 

[ivan_vy]

Morris Chang had some words some time ago, Time has proved him right

https://www.tomshardware.com/news/tsmc-founder-pat-gelsinger-may-not-have-time

 

[watzupken]

Morris Chang had some words some time ago, Time has proved him right

https://www.tomshardware.com/news/tsmc-founder-pat-gelsinger-may-not-have-time

I think he was more talking about his age that may not give him enough time to see through Intel’s turnaround. It’s not so much being ousted.

Having said that, Intel is almost or possibly pass the point of no return as they battle internally about direction to take. The fact that they can’t shed their foundry business means they will keep taking losses in the foreseeable future. The 8 billion bucks they get from CHIPS Act is just a drop compared to the full initial outlay and ongoing R&D and maintenance cost of these fabs.

 

[das_stig]

So good to see the farce that is massive payoffs for failing and shareholders bought off, they should be outside Intel HQ with pitchforks and burning stakes, demanding the board be sacrificed and answers to why the company is a joke of it's former self?