Owing to his deep expertise within the chip trade and as a longtime expertise investor, Tan was seen as a contender for the highest job since December, when Intel ousted CEO Pat Gelsinger.
Gelsinger’s employment settlement didn’t have the “change in management” clause. His contract included a base wage of US$1.25 million, and he was eligible for annual money bonuses of as much as 275 per cent of that, based on regulatory filings.
He was additionally eligible to obtain as a lot as US$12 million as a payout earlier than leaving the corporate.
In one other distinction within the wording of the contract, Tan is required to dedicate “such time as is important” to carry out his duties and duties as CEO, whereas Gelsinger was requested to dedicate his “full enterprise efforts and time to Intel”.
Tan, for now a minimum of, stays actively concerned with startups, wherein he invests via his enterprise capital agency Walden Worldwide.
