Intel paid outgoing CEO $18.9M

Intel paid outgoing CEO $18.9M

Intel paid outgoing CEO Paul Otellini a package valued at $18.9 million last year as he prepared to retire, a 10% raise.

Intel's board wasn't entirely satisfied with Otellini's performance last year. To reflect its disappointment, the board's compensation committee trimmed the cash portion of Otellini's incentive pay by 19 percent from the previous year to $5.23 million.

Although Intel's board says it wanted him to remain CEO, Otellini announced late last year that he will retire at the company's annual meeting this year. The board plans to name Otellini's successor before the May 16 meeting, which will be held at Intel's Santa Clara, Calif., headquarters.

Read more at OregonLive.com.

{biztweet}intel ceo{/biztweet}