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Outgoing Intel CEO Paul Otellini had a rather good year for himself. His total compensation in 2012 increased 8.6 percent to $19 million. However, 2012 was Otellini’s last year at Intel and he should be stepping down in a couple of months.
Otellini’s base salary was $1.2 million, but the total also includes bonuses, stock, options, pension and other benefits, Bloomberg reports. Otellini announced he plans to step down in May and Intel has yet to name a successor. Quite a few names have been thrown around, both from Intel’s own ranks and outside the company.
Although $19 million doesn’t sound like much compared to Intel’s formidable coffers, it should be noted that Otellini’s pay went up while Intel’s stock price went down over the last year.
In addition, Intel has faced plenty of criticism from analysts and investors over its plans to increase capital investment, and its apparent failure to counter the threat posed by ARM SoCs in the mobile market.
Many at Intel seem to believe that the transition to 450mm is vital to the company’s future and it should be a priority, as it will allow Intel to maintain a competitive edge for years to come.
However, investors seem more interested in a quick buck than immensely expensive projects that take years to come to fruition.