In the morning news on May 17, Beijing time, it was reported that the regulatory documents submitted on Monday showed that Intel shareholders rejected the executive compensation plan,Including CEO Pat Gelsinger’s $178 million compensation.
Intel said at the company’s annual shareholder meeting,Executive compensation package received approximately 1.78 billion votes against and 921.2 million in favor. But this vote is not binding.
“We value investor feedback and are committed to working with them to address their concerns,” Intel said in a statement.
The company said it took some concrete steps to address concerns raised by investors, including linking compensation to performance, but that “more work remains to be done.”
Regulatory filings in March show,Kissinger’s 2021 salary is more than 1,700 times that of the average Intel employee.
Intel in April expected its second-quarter revenue and profit to fall short of Wall Street expectations, mainly due to weak demand in its largest PC market and supply chain uncertainty.
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